Zygo Corp., the Middlefield maker of optical measurement devices that is the target of a more than $160 million takeover, has hired a leading industry veteran as its chief executive.
Chris Koliopoulos, an Arizona entrepreneur who founded and ran two early startups that once competed with Zygo, succeeds J. Bruce Robinson. Robinson had announced last fall his intention to retire after 10 years as CEO.
Koliopoulos also takes a seat on Zygo’s board.
In connection with his hiring, Zygo is buying an Arizona maker of optical metrology systems – the same business as Zygo’s — in which Koliopolous was an investor, adviser and director.
Zemetrics Inc. has 14 employees in Tucson, where Zygo also operates a factory. Terms of the deal were not disclosed.
He was president and CEO of ADE Corp., another metrology-equipment maker that acquired one of his two previous startups, from 2002 until its 2006 acquisition by KLA-Tencor.
Koliopolous also taught at the University of Arizona’s Optical Sciences Center. He has a B.S. in optics from the Institute of Optics at the University of Rochester and M.S. and Ph.D. degrees from the University of Arizona.
The hiring of Koliopolous comes less than two weeks after industry rival II-IV, of suburban Pittsburgh, launched its unsolicited, $10-a-share takeover offer for Zygo.
Zygo said today it has hired financial advisor Foros Securities LLC and retained its longtime outside legal counsel, Fulbright & Jaworski, to help evaluate the II-VI offer.
A Zygo spokesman declined comment beyond the company’s prepared statement.
At 11:30 a.m., Zygo was up 4 cents at $10.87.
