Diverse Optics Inc., an engineering and fabrication firm specializing in custom precision polymer optical systems used in commercial, industrial, medical and defense sectors, has purchased its supplier of injection molds, Future Molds Inc.
The companies are across the street from each other in Rancho Cucamonga, Calif.
Diverse Optics formed a corporation called Diverse Molds Inc., to purchase the assets of Future Molds, and also has hired the employees of the small mold maker, said Megan Terry, sales coordinator at Diverse Optics.
Future Molds co-founder Tony Parsons and his staff will relocate all equipment and operations into Diverse Optics new 33,000-square-foot headquarters, which should open in mid-July. Future Molds will be dissolved as a corporate entity by the end of 2019, and the new mold company will conduct business as Diverse Molds, a wholly owned subsidiary of Diverse Optics.
Terms were not disclosed for the deal, announced May 13.
"This investment strengthens our commitment to a better customer experience with a more fully integrated tooling solution," Diverse Optics CEO Erik Fleming said. "The acquisition and consolidation of our longtime mold making partner will benefit customers with improved tooling delivery and price competitiveness."
Diverse Optics provides optical design, engineering, prototyping and production of optical assemblies, elements and components. Core processes include single-point diamond turning, nano-precision machining, injection mold fabrication, precision injection molding, opto-mechanical assembly and bonding, and sub-micron optical metrology.