Newport Wraps Up Kensington Purchase

Irvine high-tech manufacturer Newport Corp. said Monday that it has completed its merger with a Richmond, Calif., company by issuing about 3.5 million shares, which were worth $275.4 million based on Monday’s closing price.

Newport said in a press release that it expects to add 15 cents a share to its earnings this year from the acquisition of Kensington Laboratories Inc., a privately held manufacturer of high-precision robotic and motion control equipment.

Kensington, which holds more than 20 patents covering advanced robotics and motion control technology, had about $38 million in revenue last year.

Shares of Newport, which makes systems that companies use to automate production of fiber-optic components, gained $3.13 to close at $78.69 a share on Nasdaq.