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{{Short description|American technology company}}
{{Hatnote|Coherent, Inc. was acquired in 2022. For the combined company, see [[Coherent Corp.]]}}
{{Infobox company
{{Infobox company
| name = Coherent, Inc.
| name = Coherent, Inc.
| logo = Coherent Inc. logo.gif
| logo = File:Coherent Inc logo.svg
| logo_alt = Coherent, Inc. logo
| type = [[Public company|Public]]
| logo_caption =
| traded_as = {{NASDAQ|COHR}}<br />[[S&P 400|S&P 400 Component]]
| foundation = 1966
| image =
| image_size =
| location_city = [[Santa Clara, California]]
| image_alt =
| location_country = United States
| image_caption =
| area_served = Worldwide
| former_name =
| industry = [[Photonics]]
| type = [[Subsidiary]] <!-- [[Public company]] -->
| products = Lasers
| traded_as = {{NASDAQ was|COHR}} <!-- {{ubl|{{NASDAQ|COHR}}|[[S&P 400]] component}} -->
| revenue = US$1.43B <ref name="yahoo-finance">[https://finance.yahoo.com/q/pr?s=COHR Coherent profile] on Yahoo! Finance.</ref>
| industry = Industrial and fiber laser equipment
| key_people = [[Andy W. Mattes]] {{small|(CEO)}}
| predecessor = <!-- or: | predecessors = -->
| num_employees = 5,200<ref name="yahoo-finance"/>
| successor = <!-- or: | successors = -->
| founded = {{Start date and age|1966}}, in [[Palo Alto, California]]
| founder = James Hobart
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| hq_location = {{nowrap|[[Santa Clara, California]], U.S.}}
| num_locations =
| num_locations_year = <!-- Year of num_locations data (if known) -->
| area_served = <!-- or: | areas_served = -->
| key_people = Andreas W. Mattes ([[Chief executive officer|CEO]])
| products =
| production =
| production_year = <!-- Year of production data (if known) -->
| brands =
| services =
| revenue = {{US$|1.23 billion|link=yes}}
| revenue_year = 2020
| operating_income = US$411 million
| income_year = 2020
| net_income = US$-414 million
| net_income_year = 2020
| assets = US$1.83 billion
| assets_year = 2020
| equity = US$927 million
| equity_year = 2020
| owner = <!-- or: | owners = -->
| num_employees = 4,875
| num_employees_year = 2020
| parent = [[II-VI Incorporated]]
| divisions =
| subsid = {{ubl|Coherent Auburn Group|Coherent Laser Group|Coherent Semiconductor Group|Coherent Lambda Physik}}
| website = {{URL|https://www.coherent.com}}
| footnotes = <ref>{{citation|url=http://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=115474778&type=PDF&symbol=COHR&companyName=Coherent+Inc.&formType=10-K&dateFiled=2020-12-01&CK=21510|title=Coherent, Inc. 10-K For the Fiscal Year Ended October 3, 2020|publisher=Coherent, Inc.}}</ref>
}}
}}
'''Coherent, Inc.''', headquartered in [[Santa Clara, California]] is an American company that develops, manufactures and supports [[laser]] equipment and related specialty components. Coherent was founded in May 1966 by physicist James Hobart and five cofounders. It went public in 1970. Over time, Coherent acquired other laser businesses and expanded to lasers for different industries and applications. From 2004 to 2021, it grew from $400 million to almost $2 billion in revenues, in part through a series of acquisitions. In 2022, [[II-VI Incorporated]] acquired Coherent, Inc. and took the name [[Coherent Corp.|Coherent Corp]].<ref name="ii-vi">{{cite press release |url=https://www.globenewswire.com/news-release/2022/07/01/2472885/0/en/II-VI-Incorporated-Completes-the-Acquisition-of-Coherent-Forming-a-Global-Leader-in-Materials-Networking-and-Lasers.html |title=II-VI Incorporated Completes the Acquisition of Coherent, Forming a Global Leader in Materials, Networking, and Lasers |date=July 1, 2022 |website=[[GlobeNewswire]]}}</ref><ref>{{cite web |url=https://www.bizjournals.com/pittsburgh/news/2022/07/01/ii-vi-to-change-name-following-acquisition-deal.html |title=II-VI completes acquisition of Coherent, will take on new name |date=1 July 2022 |last=Doughty |first=Nate |work=[[American City Business Journals]] |archive-url=https://web.archive.org/web/20220705220159/https://www.bizjournals.com/pittsburgh/news/2022/07/01/ii-vi-to-change-name-following-acquisition-deal.html |archive-date=5 July 2022 |url-status=bot: unknown |access-date=6 July 2022 }}</ref>
'''Coherent, Inc.''' is a company with headquarters located in [[Santa Clara, California]], United States, with 26 additional locations in the US, Europe, and Asia.


==Corporate history==
The company designs, manufactures and markets [[Laser|laser]] systems and components, laser measurement and control products, optics, and laser control and measurement, which are used in [[Semiconductor_device_fabrication|semiconductor]] and [[Integrated_circuit_packaging|microelectronics]] manufacturing, industrial manufacturing, defense, space, and scientific research.
===Origins and early funding===
Coherent, Inc. was founded in May 1966 by six engineers in [[Palo Alto, California]]<ref name="international">{{cite book|volume=31|pages=122–126|first=Tina|last=Grant|publisher=St. James Press|date=2000|title=Coherent, Inc.|work=International Directory of Company Histories|url=http://www.fundinguniverse.com/company-histories/coherent-inc-history/}}</ref>{{efn|Sources conflict on the number of founders.<ref name="Bromberg 1991 p. 176">{{cite book | last=Bromberg | first=J.L. | title=The Laser in America, 1950-1970 | publisher=MIT Press | year=1991 | isbn=978-0-262-02318-4 | url=https://books.google.com/books?id=P6Ta1MPiOM8C&pg=PA176 | access-date=December 4, 2020 | page=176}}</ref>}} under the name Coherent Radiation.<ref name="Hitz 2015 p. ">{{cite book | last=Hitz | first=C | title=LEOMA and the US laser industry : the good and bad moves for trade associations in emerging high-tech industries | publisher=Hoboken, New Jersey IEEE Press, John Wiley & Sons | publication-place=Piscataway, NJ | year=2015 | isbn=978-1-118-01024-2 | oclc=893974550 | page=}}</ref>{{RP|1}} Coherent was initially funded by the founders with $10,000 from their personal savings.<ref name="international" /><ref name="oralhistory">{{citation|url=https://www.aip.org/history-programs/niels-bohr-library/oral-histories/4676|title=James Hobart|work=Oral History Interviews|publisher=American Institute of Physics|first=Joan|last=Bromberg|date=January 20, 1984}}</ref> They released the first commercially available carbon dioxide laser that year.<ref name="oralhistory" />{{efn|Sources conflict on whether Coherent was the very first. Founder James Hobart asserted the first commercial laser was actually created by [[PerkinElmer]]}} The company made about $500,000 in sales its first year in operation, which grew to $6 million by 1970, after Coherent released its second generation product.<ref name="oralhistory" />


[[Rockefeller family|The Rockefellers]] invested $250,000 in 1967 and other private investors put in an additional $250,000 the next year.<ref name="international" /><ref name="oralhistory" /> Then, Coherent filed an initial public offering in 1970.<ref name="international" /><ref name="oralhistory" />
==History==
Founded in 1966 as Coherent Radiation Laboratories by Eugene Watson and a small group of scientists with $20,000 of startup capital. Watson, previously the sales and marketing manager at Spectra-Physics, was convinced of the commercial possibility for lasers in science and manufacturing. After having his proposal to build this business at Spectra-Physics rejected by the Board of Directors, he resigned and announced his intention to start a new venture to produce gas-ion and CO2 lasers.


===1970s – 1990s===
The founding team included physicist James Hobart, mechanical engineer Wayne Mefferd, laser scientist Steven Jarrett, and rounding out the team was Bob Rorden, an electronics engineer. This talented team of engineers and scientists is credited with creating some of the most successful commercial laser products in the history of the industry.
Over time, Coherent expanded into lasers for consumer, medical, scientific, industrial, and other applications.<ref name="international" /><ref name="photonics1983">{{cite news|newspaper=Photonics spectra|title=Tangents: Coherent: Taking Command on Many Fronts|date=February 1983|pages=91–92|first=Robert|last=Clark}}</ref> In 1981, Coherent acquired the scientific division of Germany-based Lambda Physik, a manufacturer of [[excimer laser]]s.<ref name="photonics1983" /> The following year, it acquired Germany-based Laser-Optronic GmbH and created a joint venture with Miyama and Co. in Japan.<ref name="photonics1983" />


Coherent became the largest laser equipment and parts manufacturer in the world, but its operations were still unprofitable.<ref name="international" /> After founder James Hobart delegated management of the company, Coherent experienced numerous problems with defective products, delayed deliveries, and poor manufacturing efficiency.<ref name="international" /> As a result of these problems, Hobart returned to the CEO position in 1988.<ref name="international" /> He restructured the company and trained staff in manufacturing processes that were popularized in Japan, such as [[just-in-time manufacturing]] and [[continual improvement process]].<ref name="international" /> As a result of these changes, Coherent's productivity improved 60 percent, while its costs decreased 58 percent.<ref name="international" />
Operating in Watson's Palo Alto home, the immediate need that Watson and his team faced was access to sufficient electrical power. A 220-volt outlet in the laundry room was repurposed and next to a washer and dryer, the first Coherent laser product was developed. Unveiled at the Westcon trade show just 4 months later, the first Coherent product was also the first commercially available carbon dioxide laser. Boeing Manufacturing Research Lab was the first Coherent customer. Watson himself undertook the installation in January 1967, and discovered the laser was working when a hole was burned in the customer's tweed jacket hanging on a door. The jacket was replaced by Coherent and, in the process, the first happy customer was acquired.


By the 1990s, medical lasers accounted for half of Coherent's revenues.<ref name="international" /> In the mid-1990s, Coherent acquired Applied Laser Systems, ATx Telecom Systems, Inc., Uniphase Corporation, and 80 percent of Tutcore Oy, LTD. These acquired businesses formed Coherent's new semiconductor division.<ref name="international" /> In July 1996, Bernard Couillaud was appointed chief executive officer and Hobart left the company the following year.<ref name="international" /> Coherent then acquired a Palomar subsidiary focused on medical applications in April 1999 called Star Medical Technologies, Inc. for $65 million.<ref name="international" />
With a new laser product on the market, Coherent developed the second product out of necessity, a power meter. Throughout the history of Coherent, laser measurement devices have been an integral part of the product portfolio. New laser types and a bewildering array of power and wavelength options, along with the addition of optics products, have given the company one of the most diversified catalogs in the industry.


===2000s===
With capital from the Rockefeller Family (now Venrock Associates) providing necessary funding for that early growth, Coherent went public in 1970 and continued to grow. With a growing list of customers across the globe and new products that pushed the boundaries of lasers for science, medical, industrial, and electronics markets, Coherent was recognized as a leader in commercial lasers.


In 2003, Coherent acquired Lambda Physik, which created ultraviolet lasers used in [[Annealing (glass)|annealing]] in manufacturing flat-panel televisions.<ref name="Ltd" /> John Ambroseo became the CEO of Coherent in 2004.<ref name="Ltd" /> During his tenure, Coherent made a series of acquisitions that grew the company from $400 million to almost $2 billion in annual revenues.<ref name="Ltd">{{cite web | last= | first= | title=Coherent CEO Ambroseo retiring by 2021 | website=Optics.org - The Business of Photonics | url=https://optics.org/news/10/4/24 | access-date=December 9, 2020|date=April 15, 2019}}</ref> In 2006, Coherent acquired laser equipment manufacturer Excel Technology for $376 million.<ref name="Ltd" />
A number of conditions created crisis in the 1980's, as commodity laser products inundated the market. Lasers are technically complex but relatively easy to develop, and with little startup capital required for a new entrant to produce lasers, competitors flourished. A number of self-inflicted problems plagued Coherent in this time period, the most threatening was a failed joint venture with General Electric that produced a profoundly flawed product that tarnished the Coherent brand image. The company failed to deliver on quality, delivery, and service promises and the company struggled financially.


Coherent purchased the German-based pulse laser company Lumera in 2012 for $52 million.<ref name="lumera">{{cite web | last= | first= | title=Coherent extends ultrafast expansion with $52M Lumera Laser buy-out | website=optics.org - The Business of Photonics | url=https://optics.org/news/3/12/35 | access-date=December 9, 2020|date=December 21, 2012}}</ref> Their lasers were primarily used in micromachining in industrial processes that use lasers to add very slight amounts of heat.<ref name="lumera" /> In 2015, Coherent purchased Raydiance, who made lasers used in automotive and medical manufacturing, for $9.3 million.<ref name="The North Bay Business Journal 2015">{{cite web | title=Raydiance acquired by Coherent | website=The North Bay Business Journal | date=July 31, 2015 | first=Jeff|last=Quackenbush|url=https://www.northbaybusinessjournal.com/article/industry-news/petalumas-raydiance-acquired-by-coherent/ | access-date=December 9, 2020}}</ref>{{efn|A different source claims $5 million rather than $9.3.<ref name="Photonics.com 2015">{{cite web | title=Coherent Increases Profits, Acquires 2 Firms in 2015 | website=Photonics.com | date=November 5, 2015 |url=https://www.photonics.com/Articles/Coherent_Increases_Profits_Acquires_2_Firms_in/a57912 | access-date=December 3, 2020}}</ref>}} In early 2016, Coherent agreed to acquire the Germany-based [[Materials science#Processing|materials processing]] competitor Rofin-Sinar for $942 million.<ref name="Beckerman 20162">{{cite news | last=Beckerman | first=Josh | title=Coherent to Buy Rofin-Sinar for $942 Million | newspaper=The Wall Street Journal | date=March 16, 2016 | url=https://www.wsj.com/articles/coherent-to-buy-rofin-sinar-for-942-million-1458164739 | access-date=December 9, 2020}}</ref> Three years later, Coherent acquired Germany-based O.R. Lasertechnologie, which produced lasers for [[additive manufacturing]].<ref name="laserfocusworldone">{{cite web | title=Coherent buys OR Laser for AM systems, expands in Lübeck | website=Laser Focus World | url=https://www.laserfocusworld.com/lasers-sources/article/16571791/coherent-buys-or-laser-for-am-systems-expands-in-lbeck | access-date=December 9, 2020|first=Conard|last=Holton|date=May 29, 2018}}</ref>
James Hobart was appointed to the CEO role in August of 1988. He restructured the business units and implemented sweeping improvement programs modeled on Japanese manufacturing. Just in Time (JIT), Statistical Process Control (SPC), and Continuous Process Improvement (CPI) manufacturing was implemented throughout the company, stressing quality and efficiency as core operating principles. By 1990 production output has increased 20% over 1987 with 30% fewer employees, product defect rates were halved, and 90% of deliveries were made on time.


Andreas W. Mattes was appointed CEO in April 2020.<ref name="Ltd" />
The 1990's were a period of growth and innovation at Coherent, and in just a two year period 34 new products were launched. Coherent acquired and occupied a new corporate headquarters in Santa Clara, CA, moving out of its historical home in Palo Alto. Efficiency and profits increased, fueling a period of global expansion and acquisitions. In July 1996, Bernard J. Couillaud was promoted from VP and General Manager of the Coherent Laser Group to President and Chief Executive Officer.


In July 2022, [[II-VI Incorporated]] completed the acquisition of Coherent Inc., with the combined company named Coherent Corp.<ref name="ii-vi" />
Over the years, Coherent was involved in a number of mergers and acquisitions.<ref>[http://www.alacrastore.com/mergers-acquisitions/Coherent_Inc-1003829 Coherent, Inc. mergers and acquisitions]. Alacrastore.com.</ref> In July 1995, Coherent acquired the laser diode operations of Uniphase Corporation. In December 1996, the company purchased 80% of Tutcore OY, Ltd., based in Tampere, Finland and ranked as the world's leading manufacturer of aluminum-free semiconductor wafers used in manufacturing laser diodes. Rofin-Sinar, O.R. Lasertechnologie, Dilas, Nufern and many more acquisitions have added to the product portfolio and technical talent that Coherent is globally recognized for.


==Products and services==
In April 2020, Coherent Inc. announced the appointment of [[Andy W. Mattes]] as its new President and Chief Executive Officer and a member of the Board of Directors.<ref>{{Cite web|url=https://hrnxt.com/news/executive-moves/coherent-names-andy-mattes-as-new-ceo/17007/2020/04/07/|title=Coherent names Andy Mattes as new CEO|last=Newsdesk|first=HrNxt|date=2020-04-07|website=hrnxt.com|language=en-US|access-date=2020-04-07}}</ref>
Coherent provides laser-related equipment, components, and services<ref name="oralhistory" /><ref name="photonics1983" /><ref name="Coherent 2020">{{citation | title=Coherent Website's Products List | date=December 3, 2020 | url=https://www.coherent.com/ | access-date=December 9, 2020}}</ref> used for a range of industries and applications.<ref name="The New York Times 1986">{{cite web | title=The Missing Boom in Lasers |first=Lawrence|last=Fisher |website=The New York Times | date=April 12, 1986 | url=https://www.nytimes.com/1986/04/12/business/the-missing-boom-in-lasers.html | access-date=December 4, 2020}}</ref> It operates numerous subsidiaries that focus on specific applications like engraving, drilling, or soldering.<ref name="photonics1983" /> It manufactures things like lenses, mirrors, diodes, laser measurement equipment, industrial lasers, and lasers used in research labs.<ref name="Coherent 2020" />


== The Bernard J. Couillaud Prize ==
== The Bernard J. Couillaud Prize ==
The [[The Optical Society|OSA Foundation]] and Coherent Inc. partnered in 2017 to offer the [https://www.osa.org/en-us/foundation/competitions_prizes/the_bernard_j_couillaud_prize/ Bernard J. Couillaud Prize], awarded annually following a rigorous selection process. The Couillaud Prize honors the legacy of the former CEO of Coherent, [https://optics.org/press/3705 Bernard J. Couillaud], who died unexpectedly in 2017. Couillaud was a brilliant physicist who, in collaboration with [[Nobel Prize]] Laureate [[Theodor_W._Hänsch|Theodor W. Hänsch]], developed the Hansch-Couillaud technique for laser frequency stabilization,<ref>{{cite journal |last1=Hansch |first1=T. W. |last2=Couillaud |first2=B. |title=Laser frequency stabilization by polarization spectroscopy of a reflecting reference cavity |journal=Optics Communications |date=1 December 1980 |volume=35 |issue=3 |pages=441–444 |doi=10.1016/0030-4018(80)90069-3 }}</ref> was instrumental in the development of numerous Dye, [[Diode-pumped solid-state laser|DPSS]], and [[Ti-sapphire_laser|Ti:Sapphire]] lasers in his various roles at Coherent, authored countless publications and received numerous patents before becoming CEO in 1996. He served as CEO until 2002, at which time he was named Chairman of the Board of Directors until his retirement in 2007.
The [[The Optical Society|OSA Foundation]] and Coherent Inc. partnered in 2017 to offer the annual Bernard J. Couillaud Prize,<ref>{{cite web|url=https://www.osa.org/en-us/foundation/competitions_prizes/the_bernard_j_couillaud_prize/ |title=Bernard J. Couillaud Prize |publisher=The Optical Society}}</ref> in honor of the former CEO of Coherent, who died in 2017. Couillaud, in collaboration with [[Nobel Prize]] Laureate [[Theodor W. Hänsch]], developed the Hansch-Couillaud technique for laser frequency stabilization,<ref>{{cite journal |last1=Hansch |first1=T. W. |last2=Couillaud |first2=B. |title=Laser frequency stabilization by polarization spectroscopy of a reflecting reference cavity |journal=Optics Communications |date=1 December 1980 |volume=35 |issue=3 |pages=441–444 |doi=10.1016/0030-4018(80)90069-3 |bibcode=1980OptCo..35..441H |doi-access=free }}</ref> and was instrumental in the development of dye, [[diode-pumped solid-state laser]]s, and [[Ti-sapphire laser]]s in his roles at Coherent. The Couillaud Prize is awarded to early-career professionals pursuing ultrafast laser research with an emphasis on solving real-world problems. The prize is a merit award of $20,500 with up to $5,000 in travel expense reimbursement to attend OSA scientific conferences.


==Notes==
The Couillaud Prize is offered to early-career professionals pursuing compelling and innovative research in ultrafast lasers that offers the potential for positive impact on science. With an emphasis on solving difficult, real-world problems, the Couillaud Prize is a personal prize intended to help the young professional advance their research and commercial prospects. Consisting of two parts, the Couillaud Prize is a merit award of $20,500 with up to $5,000 in travel expense reimbursement to attend OSA scientific conferences.
{{notelist}}


==References==
==Intellectual property==
The company reports 684 patents are registered to Coherent, Inc as of 2020.

== References ==
{{reflist}}
{{reflist}}


==External links==
==External links==
* {{Official|https://www.coherent.com/}}
*{{Official website|https://www.coherent.com}}
{{Finance links historical
| name = Coherent, Inc.
| sec_cik = 21510
}}

{{Authority control}}


[[Category:Companies listed on NASDAQ]]
[[Category:Laser companies]]
[[Category:Photonics companies]]
[[Category:Defunct semiconductor companies of the United States]]
[[Category:Optics manufacturing companies]]
[[Category:Technology companies based in the San Francisco Bay Area]]
[[Category:American brands]]
[[Category:Companies based in Santa Clara, California]]
[[Category:American companies established in 1966]]
[[Category:Electronics companies established in 1966]]
[[Category:1966 establishments in California]]
[[Category:2022 mergers and acquisitions]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:American corporate subsidiaries]]
[[Category:1970s initial public offerings]]

Latest revision as of 19:06, 11 August 2024

Coherent, Inc. was acquired in 2022. For the combined company, see Coherent Corp.
Coherent, Inc.
Company typeSubsidiary
Nasdaq: COHR
IndustryIndustrial and fiber laser equipment
Founded1966; 58 years ago (1966), in Palo Alto, California
FounderJames Hobart
HeadquartersSanta Clara, California, U.S.
Key people
Andreas W. Mattes (CEO)
RevenueUS$1.23 billion (2020)
US$411 million (2020)
US$-414 million (2020)
Total assetsUS$1.83 billion (2020)
Total equityUS$927 million (2020)
Number of employees
4,875 (2020)
ParentII-VI Incorporated
Subsidiaries
  • Coherent Auburn Group
  • Coherent Laser Group
  • Coherent Semiconductor Group
  • Coherent Lambda Physik
Websitewww.coherent.com
Footnotes / references
[1]

Coherent, Inc., headquartered in Santa Clara, California is an American company that develops, manufactures and supports laser equipment and related specialty components. Coherent was founded in May 1966 by physicist James Hobart and five cofounders. It went public in 1970. Over time, Coherent acquired other laser businesses and expanded to lasers for different industries and applications. From 2004 to 2021, it grew from $400 million to almost $2 billion in revenues, in part through a series of acquisitions. In 2022, II-VI Incorporated acquired Coherent, Inc. and took the name Coherent Corp.[2][3]

Corporate history

[edit]

Origins and early funding

[edit]

Coherent, Inc. was founded in May 1966 by six engineers in Palo Alto, California[4][a] under the name Coherent Radiation.[6]: 1  Coherent was initially funded by the founders with $10,000 from their personal savings.[4][7] They released the first commercially available carbon dioxide laser that year.[7][b] The company made about $500,000 in sales its first year in operation, which grew to $6 million by 1970, after Coherent released its second generation product.[7]

The Rockefellers invested $250,000 in 1967 and other private investors put in an additional $250,000 the next year.[4][7] Then, Coherent filed an initial public offering in 1970.[4][7]

1970s – 1990s

[edit]

Over time, Coherent expanded into lasers for consumer, medical, scientific, industrial, and other applications.[4][8] In 1981, Coherent acquired the scientific division of Germany-based Lambda Physik, a manufacturer of excimer lasers.[8] The following year, it acquired Germany-based Laser-Optronic GmbH and created a joint venture with Miyama and Co. in Japan.[8]

Coherent became the largest laser equipment and parts manufacturer in the world, but its operations were still unprofitable.[4] After founder James Hobart delegated management of the company, Coherent experienced numerous problems with defective products, delayed deliveries, and poor manufacturing efficiency.[4] As a result of these problems, Hobart returned to the CEO position in 1988.[4] He restructured the company and trained staff in manufacturing processes that were popularized in Japan, such as just-in-time manufacturing and continual improvement process.[4] As a result of these changes, Coherent's productivity improved 60 percent, while its costs decreased 58 percent.[4]

By the 1990s, medical lasers accounted for half of Coherent's revenues.[4] In the mid-1990s, Coherent acquired Applied Laser Systems, ATx Telecom Systems, Inc., Uniphase Corporation, and 80 percent of Tutcore Oy, LTD. These acquired businesses formed Coherent's new semiconductor division.[4] In July 1996, Bernard Couillaud was appointed chief executive officer and Hobart left the company the following year.[4] Coherent then acquired a Palomar subsidiary focused on medical applications in April 1999 called Star Medical Technologies, Inc. for $65 million.[4]

2000s

[edit]

In 2003, Coherent acquired Lambda Physik, which created ultraviolet lasers used in annealing in manufacturing flat-panel televisions.[9] John Ambroseo became the CEO of Coherent in 2004.[9] During his tenure, Coherent made a series of acquisitions that grew the company from $400 million to almost $2 billion in annual revenues.[9] In 2006, Coherent acquired laser equipment manufacturer Excel Technology for $376 million.[9]

Coherent purchased the German-based pulse laser company Lumera in 2012 for $52 million.[10] Their lasers were primarily used in micromachining in industrial processes that use lasers to add very slight amounts of heat.[10] In 2015, Coherent purchased Raydiance, who made lasers used in automotive and medical manufacturing, for $9.3 million.[11][c] In early 2016, Coherent agreed to acquire the Germany-based materials processing competitor Rofin-Sinar for $942 million.[13] Three years later, Coherent acquired Germany-based O.R. Lasertechnologie, which produced lasers for additive manufacturing.[14]

Andreas W. Mattes was appointed CEO in April 2020.[9]

In July 2022, II-VI Incorporated completed the acquisition of Coherent Inc., with the combined company named Coherent Corp.[2]

Products and services

[edit]

Coherent provides laser-related equipment, components, and services[7][8][15] used for a range of industries and applications.[16] It operates numerous subsidiaries that focus on specific applications like engraving, drilling, or soldering.[8] It manufactures things like lenses, mirrors, diodes, laser measurement equipment, industrial lasers, and lasers used in research labs.[15]

The Bernard J. Couillaud Prize

[edit]

The OSA Foundation and Coherent Inc. partnered in 2017 to offer the annual Bernard J. Couillaud Prize,[17] in honor of the former CEO of Coherent, who died in 2017. Couillaud, in collaboration with Nobel Prize Laureate Theodor W. Hänsch, developed the Hansch-Couillaud technique for laser frequency stabilization,[18] and was instrumental in the development of dye, diode-pumped solid-state lasers, and Ti-sapphire lasers in his roles at Coherent. The Couillaud Prize is awarded to early-career professionals pursuing ultrafast laser research with an emphasis on solving real-world problems. The prize is a merit award of $20,500 with up to $5,000 in travel expense reimbursement to attend OSA scientific conferences.

Notes

[edit]
  1. ^ Sources conflict on the number of founders.[5]
  2. ^ Sources conflict on whether Coherent was the very first. Founder James Hobart asserted the first commercial laser was actually created by PerkinElmer
  3. ^ A different source claims $5 million rather than $9.3.[12]

References

[edit]
  1. ^ Coherent, Inc. 10-K For the Fiscal Year Ended October 3, 2020, Coherent, Inc.
  2. ^ a b "II-VI Incorporated Completes the Acquisition of Coherent, Forming a Global Leader in Materials, Networking, and Lasers". GlobeNewswire (Press release). July 1, 2022.
  3. ^ Doughty, Nate (1 July 2022). "II-VI completes acquisition of Coherent, will take on new name". American City Business Journals. Archived from the original on 5 July 2022. Retrieved 6 July 2022.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  4. ^ a b c d e f g h i j k l m n Grant, Tina (2000). Coherent, Inc. Vol. 31. St. James Press. pp. 122–126. {{cite book}}: |work= ignored (help)
  5. ^ Bromberg, J.L. (1991). The Laser in America, 1950-1970. MIT Press. p. 176. ISBN 978-0-262-02318-4. Retrieved December 4, 2020.
  6. ^ Hitz, C (2015). LEOMA and the US laser industry : the good and bad moves for trade associations in emerging high-tech industries. Piscataway, NJ: Hoboken, New Jersey IEEE Press, John Wiley & Sons. ISBN 978-1-118-01024-2. OCLC 893974550.
  7. ^ a b c d e f Bromberg, Joan (January 20, 1984), "James Hobart", Oral History Interviews, American Institute of Physics
  8. ^ a b c d e Clark, Robert (February 1983). "Tangents: Coherent: Taking Command on Many Fronts". Photonics spectra. pp. 91–92.
  9. ^ a b c d e "Coherent CEO Ambroseo retiring by 2021". Optics.org - The Business of Photonics. April 15, 2019. Retrieved December 9, 2020.
  10. ^ a b "Coherent extends ultrafast expansion with $52M Lumera Laser buy-out". optics.org - The Business of Photonics. December 21, 2012. Retrieved December 9, 2020.
  11. ^ Quackenbush, Jeff (July 31, 2015). "Raydiance acquired by Coherent". The North Bay Business Journal. Retrieved December 9, 2020.
  12. ^ "Coherent Increases Profits, Acquires 2 Firms in 2015". Photonics.com. November 5, 2015. Retrieved December 3, 2020.
  13. ^ Beckerman, Josh (March 16, 2016). "Coherent to Buy Rofin-Sinar for $942 Million". The Wall Street Journal. Retrieved December 9, 2020.
  14. ^ Holton, Conard (May 29, 2018). "Coherent buys OR Laser for AM systems, expands in Lübeck". Laser Focus World. Retrieved December 9, 2020.
  15. ^ a b Coherent Website's Products List, December 3, 2020, retrieved December 9, 2020
  16. ^ Fisher, Lawrence (April 12, 1986). "The Missing Boom in Lasers". The New York Times. Retrieved December 4, 2020.
  17. ^ "Bernard J. Couillaud Prize". The Optical Society.
  18. ^ Hansch, T. W.; Couillaud, B. (1 December 1980). "Laser frequency stabilization by polarization spectroscopy of a reflecting reference cavity". Optics Communications. 35 (3): 441–444. Bibcode:1980OptCo..35..441H. doi:10.1016/0030-4018(80)90069-3.
[edit]
  • Official website
    • Historical business data for Coherent, Inc.:
    • SEC filings
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