BRUSSELS (Reuters) - The European Commission said on Wednesday that it had approved U.S. laser tools and systems maker Coherent Inc's (O:COHR) $942 million (£771.50 million) acquisition of rival Rofin-Sinar Technologies Inc (O:RSTI), subject to conditions.
The Commission said its approval was conditional on the divestment of Rofin-Sinar's business in Hull, UK, which produces low power CO2 lasers. It added that it had not identified concerns in other markets due to strong alternative suppliers.
Coherent's lasers are used in digital imaging, 3-D mapping, engraving and welding, among others. Rofin's products include solid-state lasers, fiber lasers and diode lasers.
The laser industry is being pressured by falling prices and slowing growth, according to analysts.