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Arasor acquires Novalux Inc


Posted January 9th, 2008 by admin
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Arasor International (ASX:ARR) has acquired the assets of Novalux Inc to leverage its joint venture with ZTE in China.

The acquisition has been made through issuance of $US7 million in Arasor stock and the assumption of debt.

It will allow Arasor to take further control of the laser display and projection value chain which will double its revenue from the display market and secure Seiko Epson, Young Optics, Oerlikon and other customers via exclusive licences.

Arasor can now provide an end-to-end solution in the manufacture of light sources in the laster display industry to realise its potential in the joint venture with ZTE for the manufacture of light sources and light engines in China.

Novalux is based in Clafornia and has attracted over $US150 million in venture capital date.

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