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Electrophysics to be acquired by Sofradir

Date: October 07, 2008

Paris, France, and Fairfield, NJ, USA, October 6, 2008- Sofradir, a leading developer and manufacturer of advanced infrared (IR) detectors for military, space and industrial applications announced today that it will acquire Electrophysics, a US developer of advanced high-performance IR equipment. Sofradir expects to complete the transaction within 30 days.

The acquisition is expected to accelerate the development of Sofradir and its subsidiary ULIS in the North American market. It will provide Sofradir and ULIS with a US platform to better serve the North American IR detector and module market, estimated at USD 1 billion (approx. Eur 700 M), the largest in the world.

“This strategic foothold will boost Sofradir and ULIS’s growth by bringing us closer to customers in the US who will have ready access to our advanced cooled and uncooled IR technologies, known for their performance, reliability and producibility” said Philippe Bensussan, chairman and CEO of Sofradir and chairman of ULIS. “Having a US base of operations will allow us to be more cost competitive and responsive to our customers.”

Electrophysics’ president Frank Vallese, who will continue to head the US operation said: “We are delighted with this opportunity. It will be a big plus to have Sofradir’s talent, technology and expertise here on North American soil. Sofradir has an exciting product development roadmap and an established history of delivering high-quality IR detectors. We foresee a wide range of market opportunities in public safety, security and defense, supplying both OEM’s and system integrators”.

Sofradir is a leading provider of IR detectors. Together with ULIS, the company shipped 40,000 IR detectors, worldwide, this year. The purchase of Electrophysics, founded in 1969, will help it ramp up sales and enhance the service it provides to US customers in the defense, space and commercial industries. “By joining the experienced team of 35 at Electrophysics, Sofradir is taking an important step forward to the benefit of the customers of both companies,” added Bensussan.

About Sofradir

sofradir_logoSofradir develops and manufactures advanced infrared detectors (IR) for military, space and commercial applications. It specializes in cooled IR detectors based on a sophisticated high performance technology, Mercury Cadmium Telluride (MCT), and its vast product portfolio of scanning and staring arrays covers the entire infrared spectrum. Sofradir also offers QWIP detectors developed in cooperation with Thales. Ulis, a subsidiary of Sofradir, designs and manufactures low cost uncooled amorphous silicon infrared detectors for commercial applications. Together the companies generated revenues of USD 165 M (EUR 110 M) in 2007. Sofradir and Ulis directly export more than 70 percent of their products. Customers include the US Army, Thales, Sagem, Selex, Thales Alenia Space, ESA (European Space Agency) and FLIR Systems. Sofradir’s headquarters is located in Chatenay-Malabry, near Paris, France. Its manufacturing facilities and those of ULIS are located in Veurey-Voroize, near Grenoble. Sofradir and Ulis employ 470 people.

About Electrophysics

Electrophysics_logoFounded in 1969, Electrophysics designs and manufactures infrared equipment for a wide range of imaging applications including portable thermal imagers as well as night vision modules for low-light photography and videography. The company sells to industrial, scientific, law enforcement and US Department of Defense customers. In addition, it develops image acquisition and analysis software and a range of applicationspecific accessories including optics. The company, located in Fairfield, New Jersey, USA, has 35 employees and annual revenues of USD 12 M (EUR 8 M).


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