Photonium buys the Majority<br>in Akseli Lahtinen

The shares were acquired from Laskentaneliö Ky, Tuomo Honkanen and Rauno Suoniemi, who each sold 18% of their shareholding in the company. Photonium also has the option to purchase the remainder of the shares within a 3 year period. Akseli Lahtinen has over 20 years experience in the design and manufacture of complex automation products. The company currently employs 12 people and has a turnover of 1.2 million €. One of the key company developments is a servo driven punching and cutting unit for metallic bars. These units will now be sold under the Photonium brand through their international sales network. ”Akseli Lahtinen has excellent resources to manufacture prototypes for Photonium’s new standard products. With Photonium’s goal of bringing a new product to market every 3 months, this acquisition ensures that we have one of the key resources necessary to achieve this. At the same time this transaction will increase Photonium’s resources in R&D.” Says Markku Jokela, Photonium’s CEO. Photonium Oy design and manufacture lines for optical fiber manufacturing and the automation of electronics manufacture. Photonium has grown from 1 million € / year to 5 million € / year in revenue in over the past 4 years, operating profitably. The company’s aggressive expansion plan is to grow by a minimum of 50% annually year on year.