Giants' Silent Battle! Global Laser Industry's M&A Wave Surges
source：Laserfair.com
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Time：2025-11-04
Source: Laserfair.com 30th Oct 2025
Recently, high-profile merger and acquisition (M&A) events in the global laser industry have emerged intensively, attracting widespread attention from the sector.
On October 14, 2025, Hymson announced the completion of the 100% acquisition of Xteg, a German high-end laser cutting equipment manufacturer. only a few days earlier, Thorlabs (USA) also announced the acquisition of Nu Opto, a specialized acousto-optic device manufacturer, while Tescan integrated FemtoInnovations, a company specializing in ultrafast laser technology.
Meanwhile, consolidation in the laser chip sector has accelerated. Dogain Core took a controlling stake in Wuhan BDLaser in September 2025, and Everbright Photonics publicly stated that it will acquire peer targets when the time is right...
In fact, since the second half of this year, a wave of M&As has frequently emerged in laser-related fields. Enterprises such as Tiangong International, JCZ, AFR, and Sunshine Laser have successively launched acquisition initiatives.
These mergers and acquisitions span multiple niche segments including laser equipment, chips, and ultrafast lasers. Behind this wave of M&As lie both the ambitions of leading enterprises in their global expansion strategies and the urgent need for industrial chain resource integration.
Hymson's Acquisition of Xteg:
Targeting Europe's Mid-to-High-End Market
As a leading Chinese laser cutting equipment enterprise, Hymson accelerated its overseas expansion in 2025 with a "dual-wheel drive" strategy. Following the acquisition of Leister Group's laser plastic welding business in Switzerland in March, it announced the completion of the 100% acquisition of Germany's Xteg on October 14.
It is reported that Xteg is headquartered in Baden-Württemberg, Germany. Its core team consists of former senior experts from Trumpf, with high-quality customers and mature sales networks in European and American markets. Its fiber laser cutting equipment is renowned for technological innovation and excellent services.
The core value of this acquisition lies in resource synergy. Xteg's localized operation experience and customer networks will address Hymson's service gaps in the European market. Meanwhile, Hymson's R&D capabilities and cost control advantages can quickly respond to European customers' needs for high-performance equipment and customization. This combination not only enhances brand competitiveness but also reconfigures the competitive landscape of the Sino-European laser market.
In the future, both parties will implement the product strategy of "standard configuration + value-added functions". On October 21, 2025, the joint brand made its global debut at Germany's BlechExpo, launching the new HyLaser series. These devices integrate intelligent control systems and premium light sources, directly addressing the pain points of precision and efficiency.
This move also marks a key step in Hymson's global strategy. The acquisition is not just about market expansion, but also an in-depth integration of technology, brand, and services. In the high-end competition of the laser industry, Hymson is expected to become a notable emerging force in the European market through this layout.
Hymson's global ambitions go beyond this. By integrating Xteg's localized service capabilities with its own R&D and manufacturing strengths, the company plans to replicate the "Intelligent Manufacturing from China + Services from Germany" model in the European market, seizing shares in the mid-to-high-end laser cutting market.
Thorlabs Acquires Nu Opto:
Expanding Its Acousto-Optic Solutions Portfolio
On October 16, 2025, Thorlabs, a global giant in photonics components, announced the acquisition of Nu Opto's assets. Prior to this, Inno Laser had announced on September 29, 2025, the sale of assets of this subsidiary, with the transaction valued at USD 1 million. Nu Opto boasts 35 years of experience in R&D of acousto-optic devices, whose products are widely used in cutting-edge fields such as quantum technology. Through this acquisition, Thorlabs has further enriched its photonics product lines and strengthened its layout in the research and industrial markets.
For Thorlabs, acquiring Nu Opto is a key move for technical complementarity and market expansion. Dr. Peter Fendel, its Chief Technology Officer (CTO), stated that acousto-optic modulators will enhance the completeness of the company's photonics platform. Nu Opto's mature technologies and large-capacity OEM capabilities can be integrated into Thorlabs' operational system immediately.
Financially, Thorlabs has ample confidence for the acquisition. As of December 31, 2024, the company’s total assets reached $758 million, with operating revenue of $667 million and net profit attributable to shareholders of $46.1253 million. The acquisition of Nu Opto’s assets (including accounts receivable, inventory, fixed assets, etc.) will further strengthen Thorlabs’ global leadership in the field of photonic components and systems.
This merger reflects the trend of specialized integration in laser niche segments. As a key link in the photonic industry chain, acousto-optic devices feature high technical barriers and specialized application scenarios. Thorlabs’ rapid entry into this field through the acquisition demonstrates its strategic approach of "technology-driven + global integration". Driven by emerging demands such as quantum technology, the market potential of acousto-optic devices will be further unleashed.
Tescan's Acquisition of FemtoInnovations:
Ultrafast Laser’s Cross-sector Empowerment in Semiconductors and Biomedicine
On September 22, 2025, Czech-based Tescan Group announced the acquisition of ultrafast laser technology firm FemtoInnovations, and established a laser technology business unit with its headquarters located at the University of Connecticut Science Park. This strategic move aims to integrate FemtoInnovations’ disruptive laser platform technology with Tescan’s imaging analysis platform, providing customers with end-to-end workflow solutions.
FemtoInnovations, spun out of the University of Connecticut, focuses on developing laser systems, nanofabrication solutions, imaging tools, and image analysis software. Its technologies have been validated in semiconductors, advanced manufacturing, and high-tech industries, attracting attention from leading global enterprises. Jean-Charles Chen, CEO of Tescan, stated, “By integrating ultrafast laser micromachining with imaging analysis platforms, we can help customers gain deeper insights more quickly in areas such as failure analysis and sample preparation.”
The synergies of this acquisition manifest in multiple dimensions. On the technical front, FemtoInnovations' laser platform forms a complementary relationship with Tescan's electron microscopy and Micro-CT business units, with plans to deliver integrated workflows starting from 2026. In terms of industry-academia-research collaboration, the Laser Technology Business Unit will work closely with the University of Connecticut Technology Park and establish the FLAME Center to accelerate R&D efforts. From a market perspective, Tescan will showcase new solutions at the US-based ISTFA 2025 exhibition in November 2025, expanding into high-end markets such as semiconductor and biomedical device manufacturing.
From a strategic standpoint, the core foundations of this collaboration lie in the professional caliber of the FemtoInnovations team, the maturity of its ultrafast laser platform, and the cultural alignment between the two parties, which is centered on customer needs. Meanwhile, the research ecosystem, talent pool, and infrastructure advantages of the University of Connecticut Technology Park provide fertile ground for the growth of the Laser Technology Business Unit.
Everbright Photonics Plans to Merge with Industry Peers:
"Chain Integration" to Build an Industrial Ecosystem
As "the first listed company in the laser chip sector", Everbright Photonics clearly stated in its response on the interactive platform on October 14, 2025: "The company intends to acquire and merge similar industry targets at an appropriate time, integrate high-quality resources in the domestic laser industry chain, and contribute to building a world-class laser industry cluster."
This statement by Everbright Photonics is both a response to the industry "involution" phenomenon and an extension of its IDM full-industry-chain platform strategy.
It is reported that Everbright Photonics has achieved full-industry-chain coverage from material semiconductor chips to devices, modules, and lasers. Its 2024 operating revenue exceeded 400 million yuan, with an average growth rate of 65.55% over the past three years. Against the backdrop of responding to industrial cycles and "anti-involution", Everbright Photonics emphasizes that healthy competition and reasonable profits are the foundation for the sound development of the laser ecosystem, and domestic enterprises should advance in coordination to take up the banner of domestic substitution.
At the policy level, the national "Six M&A Policies", along with the M&A funds and M&A alliances established in Suzhou, provide institutional and financial support for Everbright Photonics' integration plan. At the local level, Suzhou explicitly supports enterprises in growing stronger through mergers and acquisitions to promote regional industrial synergy.
Against this backdrop, Everbright Photonics' intention to merge and acquire not only aligns with its own development strategy but also conforms to the trend of building ecological clusters in the laser industry. If the integration proceeds further, it is expected to further strengthen its competitive barriers and consolidate its market position in the process of domestic substitution of laser chips.
Industry M&A Wave: "Three-Wheel Drive" of Policy, Market and Technology
In fact, previously, multiple M&A events had already emerged in laser-related fields:
On September 3, Tiangong Investment, a wholly-owned subsidiary of Tiangong International, subscribed for 294,367 new shares of Shanghai GZClad at a total price of 3 million RMB, with a post-investment shareholding ratio of 5.56%. The subscription price was determined based on a combination of factors.
On July 30, JCZ, a leading enterprise in laser processing control systems, planned to acquire 55% equity of Changchun SMTFSM Optoelectronics through "issuance of shares + cash payment" and raise supporting funds, which will strengthen technical integration.
On July 28, AFR Laser first announced plans to acquire a controlling stake in Suzhou Agix Optoelectronics, and in June 2025, it acquired 100% equity of Wuhan Jabil under JBL for 17 million USD to complement its manufacturing capabilities.
On July 8, Sunshine Laser acquired 56.03% equity of Comnect with 350 million RMB in cash to obtain controlling stake, entering the communication equipment sector for the first time.
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The surge in M&A activities in the laser industry in 2025 is no coincidence. From the perspective of policy support, since 2024, China has introduced a series of heavyweight policies to back mergers and acquisitions (M&A). In terms of market environment, the laser industry is evolving from the growth stage to the mature stage, with its competitive landscape reshaping at an accelerated pace. Regarding technological trends, driven by the dual engines of AI computing power and high-end manufacturing, technologies such as ultrafast lasers and high-power semiconductor laser chips have become focal points of competition. Enterprises need to acquire core technologies through M&A to seize the industrial high ground.
However, the M&A wave also harbors risks. Issues like valuation differences, delays in approval, and capital chain breakdowns may hinder transaction completion, while challenges in cultural integration and business synergy cannot be ignored.
For laser enterprises, how to achieve in-depth integration of technology, market, and culture amid M&A will be the key determinant of whether they can stand out from the "M&A wave".
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