CORPORATE NEWS

From LightPath Technologies CEO, Jim Gaynor:


Dear Valued Customer,

Great news for you!  We are pleased to announce that LightPath has completed the agreement to acquire ISP Optics Corporation (“ISP”). 

This acquisition expands the scope of both companies, adds geographic diversity, expanded capabilities and scale which allows us to grow while continuing to offer premier precision molded optics in the visible and Infrared spectrum and focus on providing all our customers with the best photonics solutions available.

Headquartered in Orlando, Florida and with major manufacturing operations in China, LightPath is a recognized leader in optics and photonics solutions, serving blue chip customers in the industrial, defense, telecommunications, testing and measurement, and medical industries, for over 30 years.

Acquisition Highlights 

  •  Generates significant synergies through cross-selling of products, expanded product offerings, greater      production and assembly capabilities as well as material processing capabilities.
  • Combines two fast-growing high technology optical product pioneers to establish a premier, global, leading-edge industrial technology company.
  • Combines LightPath’s high-volume molding technology with ISP’s high-value diamond turning, coatings and polishing capabilities to create a paramount solutions provider.
  • The ISP business broadens LightPath’s global customer base significantly with nominal overlap.
  • Expands LightPath’s market reach to include major operations in Asia, North America and now Europe with ISP’s Latvian operation.

ISP will be a wholly-owned subsidiary of LightPath.

About LightPath Technologies

LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries.  LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses.  LightPath also offers custom optical assemblies, including full engineering design support.  For more information, visit www.lightpath.com.

We look forward to partnering with you on your next optical project.  Thank you for your continued patronage.

Did you know that ISP Optics has been diamond turning lenses and mirrors since 2001? Over the last decade and a half we have fabricated many thousands of sphere’s, asphere’s, diffractives and mirrors for our satisfied customers.

Over the past 12 months, due to high demand, we have made major expansions in our diamond turning department by nearly doubling our capacity with the addition of three new diamond turning machines. Our diamond turning department now consists of eight diamond turning machines from both Moore Nanotechnology and Precitech. This makes ISP Optics one of the most diverse and agile DT operations in the world and allows for us to provide fast, high quality solutions for our customers. ISP Optics also has state of the art metrology equipment from Zygo and Taylor Hobson all within our temperature controlled facility. Our skilled team of diamond turning engineers and technicians has over 100 years of combined experience which gives us the ability to meet the most challenging customer requirements and specifications.

When it comes to the diversity of infrared materials and the scale of production orders, from prototyping to high volume, ISP Optics has one of the most versatile operations in the photonics industry. Our unique diamond turning capability extends to nearly every material that transmits in the infrared, including standard IR materials like silicon, germanium and zinc selenide. ISP Optics also works with not so common materials like chalcogenide glasses such as IG6 or Amtir. Even various plastics like PMMA or Zeonex are diamond turned at ISP. KRS-5 and CdTe aspheres are manufactured using specially developed processes and techniques along with dedicated safety equipment. ISP Optics also works with non-ferrous metals such as nickel plated substrates, aluminum and copper parts to make high quality mirror surfaces. 

ISP Optics diamond turned components can be found in such applications as UAV gimbals, commercial and military thermal imaging devices, handheld FTIR cameras, IR telescopes and other cutting edge projects including an intraocular contact lens to help treat age related macular degeneration.

If you have any questions about our diamond turning capabilities or if you have any aspheric or diffractive surfaces you like us to diamond turn, please call as at 914-591-3070 or email us at sales@ispoptics.com

ISP Optics New York Diamond Turning Team

2015 ISP Optics lenses have once again made the news. ISP Optics, working with Joe Ford (University of Southern California) and Eric Tremblay (EPFL Switzerland), have produced an intraocular contact lens to improve the sight of people with age-related macular degeneration, the third leading cause of blindness globally. ISP Optics has been working with UCSD since 2008 on the continual development of these special lenses and looks forward to continuing this groundbreaking work with Joe and Eric. Read more about this innovative technology in CNN article

2014 As a continuing effort to vertically integrate the manufacturing capabilities of ISP Optics Corporation, the brand new DLC (Diamond-like Carbon) coating system was installed in April 2014. The coating system is now fully operational for production.
New DLC Coating System (Plasma Enhanced Chemical Vapor Deposition) provides the ultimate hardness and durability to protect exterior surfaces of  Infrared optical elements in harsh environments. The advantages of DLC protective film are: wear and abrasion resistance, anti-reflection from SWIR to LWIR, resistivity to atmospheric corrosion and marine environment. These are crucial requirements to operate IR optics in the field.
ISP Optics offers DLC protective coatings on Germanium optics (for LWIR) and Silicon optics (for MWIR) as standard coatings. To find out more about ISP’s DLC protective coatings please click here.

2013 ISP Optics is celebrating 20 years of providing quality products and services to the photonics industry and we take this opportunity to thank our customers and our team. ISP Optics grew and prospered because our customers afforded us the opportunity and extended loyal support over the years and our team's contributions. Your products requirements, new technologies, new applications and our "listening" to you steered us in the forward direction. On April 5th we honored our long-time employees and celebrated their contribution to our growth and success.

2012

ISP OPTICS Corporation this summer, in a continued support of its growth, has made investments in capital equipment to facilitate its expanding array of products and services offered to ISP Optics diversified customer base.With these investments ISP Optics can further support the expanded product lines including advanced zoom lens assemblies, opto-mechanical sub assemblies and MTF testing services
  • MTF station supporting IR Assembly calibration and testing.
  • Non-Contact Surface Profilometer. Taylor Hobson, Talysurf.
  • Coating laboratory expansion:
      - adding yet another 45" Box Coater with 6 crystal monitors
      - multiple E-Beam guns supporting high volume production and large optics.
  • Moore Nanotechnology Systems - Ultra-Precision Diamond-Turning Lathe.

2011

ISP Optics successfully consolidated coating and manufacturing operations in order to align to Company's strategic growth and expansion plans.
Effective Friday, September 24th our new address will be:
50 South Buckhout Street, Irvington, NY 10533
Telephone, Email and Fax are un-changed
We look forward to serving our customers and providing great service.II

2010

ISP Optics Corporation of Irvington, New York, a leading manufacturer of precision infrared optical components, has acquired the coating assets of Opticorp Inc., of Chelmsford, MA , a provider of high quality infrared optical coatings. The DAK Group, an Investment Banking firm headquartered in Rochelle Park, NJ, served as financial advisor to ISP Optics In combining the expertise and technology of these two leading edge optical companies, ISP Optics continues its vertical integration in the infrared industry, striving to provide its customers with complete infrared optics solutions.  David Smith, the owner of Opticorp Inc., will continue as the manager of coating operations for ISP Optics. Mr.Smith stated: “We are very enthusiastic about our new relationship with ISP Optics. We have been providing optical coatings to ISP Optics for many years, and the quality of their optics and the knowledge of their staff has always been first rate. Our combined experience in optical fabrication, diamond turning, and optical coatings will allow ISP Optics to provide a streamlined experience for our customers, allowing us to provide quality and performance in less time." Joseph Menaker, President of ISP Optics was pleased to announce the acquisition: “It is very exciting to welcome on board the extremely capable, devoted and experienced group of people from Opticorp. We have been doing business with Opticorp for many years, during which time they have always delivered high quality and reliable coatings to us. We are certain that the addition of Opticorp will open new strategic venues for ISP Optics and enhance our product offering to our customers.”

2008

ISP Optics supplied 10 lenses and window which were used in In the near-IR camera that is mounted on the 3.5 meter WIYN telescope at Kitt Peak. See detailes at: WIYN MISSION

2007

August 2007, Infrared Combiner willl be used together with multiple telescopes to view Altair’s bulging middles. The full article Spinning Star was published in August 2007 issue of Photonics Spectra.

2006

June 2006. In order to meet the increasing demand for infrared optics ISP Optics of Irvington NY has expanded its diamond turning operations by moving to a brand-new, temperature controlled facility and adding two new Nanotech 250 UPL single point diamond turning lathes. ISP Optics has also hired Joe Washer to head the Diamond Turning Department. Mr.Washer was previously employed as DT Manager of Exotic Materials and held various positions at Nanotechnology Systems and Precitech .

2005

May 2, 2005: ISP Optics Corporation (ISP Optics) and Ohyo Koken Kogyo Co., LTD (OKEN) signed a two-way exclusive rights agreement to distribute each other optical products in Japan and USA accordingly. OKEN www.oken.jp is a Japanese manufacturer of high quality single crystals of large diameter grown using refined materials by Bridgman-Stockbarger Method.

2004

The ISP Optics CAF2 prisms were used in the NASA "Deep Impact" mission. Please see the CNN.com article about "Deep Impact" mission.
Westchester County Business Journal, November 22, 2004 Vol 43. No. 47 features ISP Optics.By David Gurliacci

ISP Optics Corp. of Irvington,NY felt the recent recession "almost immediately" in late 2001, company President Joseph Menaker said. And the response of the company, which makes optical devices for scientific products, was to invest more money in its factories and equipment.
That strategy appeared to fly in the face of common sense, but while the company went through difficult times, Menaker said, it had to think ahead. "We knew it (the recession) would be over sooner or later. In order to grow, you need a lot of investments up front to ramp up production, to buy more raw materials, and to train people."
Last year the company started hiring more of its highly skilled workers, "who need six to 12 months of training just to get to some basic level," he said.
That investment has been paying off for about a year now. In the first nine months of this year, the company grew 38 percent, compared with the same period a year before. In all of 2003, he said, ISP Optics grew only 8 percent.
ISP's current growth comes at a time when the photonics industry - businesses that make scientific instruments involving the use of light - is growing at roughly 5 percent to 15 percent, said Wendy Laurin, group publisher of Photonics Spectra magazine. ISP's segment of the industry - infrared optics - is growing somewhat faster, but not as high as 38 percent, she said.
Infrared optical equipment - often consisting of high-quality lenses, prisms and fibers - is used in a wide variety of instruments, including NASA telescopes, medical equipment and night-vision devices used by the military.
ISP has a history of investing in technology and a history of high growth. This year, for the fourth time in a row, it was named a "New York Technology Fast 50" company by Deloitte & Touche L.L.P. The award is for fast growth of a technology company over a five-year period. ISP ranked No. 43 on the list, with total growth of 44 percent over the five years from 1999 through 2003.
One factor in ISP's success has been a combination of attention to high quality as well as fast delivery, Menaker said. To accomplish both, the company has emphasized staff training in modern management techniques.
"It requires a lot of discipline, a lot of training and a lot of effort just to train our people," Menaker said. Even though labor costs are relatively low in former communist countries, he said, ISP Optical doesn't compete so much by undercutting prices as by investing more in quality and good service.
Richard Santos, senior purchasing agent for Zygo Corp. of Middlefield , Conn. , is one of the impressed customers. "They were very responsive in terms of meeting my time schedules," he said. "We've been very happy with them. The thing we look for is price and (quick) delivery, and quality - and their delivery for us has been 100 percent on time.
"Our plans are to move more toward assemblies and systems," he said, "to step up our production - not to be a component manufacturer, but maybe assembly for optical systems." Mark Lifshotz and Joseph Menaker , co-founders of the optical manufacturing company.