Through a series of acquisitions, Dynasil has evolved from a single-product line optics company providing synthetic fused silica to an emerging-growth company focused on commercializing its own products, patenting its own innovations and advancing its own technologies. Our revenue has increased from $2 million in FY 2004 to nearly $47 million in FY 2011, representing compound annual growth of 53.9 percent.
The acquisitions we completed include:
Optometrics: In March 2005, we acquired Optometrics LLC, a worldwide supplier of optical components and instruments including diffraction gratings, interference filters, laser optics, monochromators and specialized optical systems.
Evaporated Metal Films: In October 2006, we acquired Evaporated Metal Films Corporation, an optical thin-film coatings company with a broad range of application markets including solar energy, display systems, dental photography, optical instruments, satellite communications and lighting.
RMD: In July 2008, we acquired RMD Research, a contract research company, and RMD Instruments, LLC, a precision instruments company that manufactures and sells instruments in the medical imaging and industrial markets. Founded in 1974, RMD Research develops advanced technology in materials, sensors and prototype instruments that detect, use or measure radiation, light, magnetism or sound for use in security, medical and industrial applications. RMD Research has technology practices in radiation detection, digital imaging, magnetic imaging, laser optics and photonics. Drawing upon employees from very diverse cultural, educational, and disciplinary backgrounds, and the resulting atmosphere of creativity, academic rigor, and innovation, RMD has become a leader in the federal Small Business Innovation Research program, called SBIR. RMD Instruments was born to bring the results of this innovative research directly to market and continues, as Dynasil Products, to provide cutting edge technology products in security, medical and industrial markets.
Hilger Crystals: In July 2010, we acquired Hilger Crystals, Ltd., a manufacturer of synthetic crystals applicable to a wide range of industrial, medical, and homeland security applications with a long history of supplying high-quality synthetic crystals for infrared spectroscopy, X-ray and gamma ray detection. Dynasil acquired Hilger to accelerate the transition of our dual mode radiation technology to the marketplace.
Biomedical technologies: In April 2011, we acquired the rights to six biomedical technologies from Dr. Daniel Ericson, a former hematologist at the Mayo Clinic, which jointly owns rights to certain of the technologies acquired. We will seek opportunities to license these technologies as well as obtain research grants with the Mayo Clinic to advance several of the development-stage technologies for various therapeutic applications.
Dynasil is a strong and growing commercial organization that is bringing to market innovative technologies emanating from our strong research portfolio. Dynasil Products is the commercial engine for the company, generating income through organic programs, technology licensing opportunities and strategic acquisitions of new technologies or pathways to market. We have a number of exciting catalysts to look forward to in 2012, including the introduction of new products and commercialization of our dual mode radiation detection technology. We remain focused on growing Dynasil by continuing to acquire businesses, advanced technologies and assets in the homeland security, industrial and medical markets that will work to leverage our research and technology expertise and enable us to expand our Products and Technology portfolio.
The Dynasil Companies