ORLANDO, Fla.--(BUSINESS WIRE)--Fonon Corporation, a multi-market holding company, R&D center, equipment designer and manufacturer of advanced laser material processing systems for subtractive and additive manufacturing, today announced its November 16, 2023, acquisition of Fonon Technologies, a laser-based development and worldwide manufacturing and systems integration company for state-of-the-art components, material processing and power-generating equipment.
Fonon Technologies' patents, licenses, inventions and proprietary IP will enable Fonon Corps' world-class team to further diversify and advance its growing set of products that will allow the company to deliver even more high-quality solutions to the market.
New patents acquired through the acquisition translate to Fonon Corp. having a larger product offering, which includes extensive additive manufacturing technology that allows the company to cater to a larger number of industries worldwide. This acquisition also equips the company with an easier avenue for government sales. Following this occurrence, Fonon Corporation became the parent company of Fonon Technology, which is now recognized as its subsidiary. The company will be headquartered at 2701 Maitland Center Pkwy in Maitland, Fla.
Key Highlights
Through this acquisition, Fonon Corp. received all Fonon Tech IP and patents. Key highlights of the acquisition include:
- Product Offering Expansion: Fonon Corp. has acquired three cutting-edge patents that focus on additive manufacturing and metal printing technology;
- Expansion Into the Defense Industry: Through this acquisition, Fonon Corp. receives Fonon Technologies' established System for Award Management (SAM) registration status, its Commercial and Government Entity (CAGE) Codes, and its established government accounts, significantly streamlining and supplementing government sales;
- Environmental Protection: The company is intent on supplying environmentally friendly technology to industries worldwide, aiding companies in reducing their negative environmental impact.
About Fonon Corporation
Fonon Corporation is a diversified industrial laser equipment company with a continuously growing umbrella of building-block technologies supported by patents, licenses, next-generation hardware, and proprietary metal processing IP. The company is dedicated to advancing industrial technology and designing specialized 3D metal printing systems for manufacturing purposes, representing the fastest path to Manufacturing Readiness Level 10.
About Fonon Technologies
Fonon Technologies is a global laser-based development, manufacturing, and systems integration company for advanced components, material processing and power-generating equipment. The company is an established military vendor with a long-standing SAM registration and government CAGE Code that provides designs and equipment to various industries, including aerospace, automotive, defense, energy, industrial, medical and semiconductor.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations as of the date of this press release and involve risks and uncertainties that may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. We encourage readers to review the “Risk Factors” in our Registration Statement for a comprehensive understanding. Fonon Corporation undertakes no obligation to revise or update any forward-looking statements, except as required by applicable laws or regulations, to reflect events or circumstances after the date of this press release.
