International leading law firm Herbert Smith Freehills has advised Lumibird, the European leader in laser technologies, on its acquisition of Prima Industrie's Italian subsidiary, Convergent Photonics, and the Convergent assets of Prima Industrie in the United States.
Convergent Photonics has over 50 years of experience in the design and manufacture of semiconductor lasers and laser diode packaging, as well as the design and manufacture of high-power fibre lasers for the medical sector (urology, surgery, etc.).
This acquisition is a new step in the Lumibird 's investment strategy and has a double strategic interest by strengthening its strategic positioning in semiconductors and very high-power fibre lasers, and by opening up new market segments. This acquisition will enable Lumibird to further strengthen its sovereignty in the field of lasers and optronics.
The transaction is subject to regulatory approvals in Italy and the USA. The transaction is expected to be completed in the second half of 2023.
The cross-border Herbert Smith Freehills team was composed of, in Paris, partner Hubert Segain and associate Yohann Smadja, on M&A aspects; in Milan, partner Augusto Santoro, and associates Michela Merella and Cesare Saputo on corporate aspects, and partner Francesca Morra, on regulatory matters of the transaction; in New York, partner James Robinson, associates Lina Vélez and Sebastian Celis Rodriguez, on corporate aspects, as well as partner Joe Falcone, and associate Chris Arima, on regulatory matters. The team was further assisted by associates Tyler Hendry and Anastasia Regne, on labour law; and partner Jonathan Cross and associate Brittany Crosby-Banyai, on other regulatory matters, in New York.