Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

Laser Focus World Membership

Never miss any articles, videos, podcasts, or webinars by signing up for membership access to Laser Focus World online. You can manage your preferences all in one place—and provide our editorial team with your valued feedback.

Magazine Subscription

Can you subscribe to receive our print issue for free? Yes, you sure can!

Newsletter Subscription

Laser Focus World newsletter subscription is free to qualified professionals:

The Daily Beam

Showcases the newest content from Laser Focus World, including photonics- and optics-based applications, components, research, and trends. (Daily)

Product Watch

The latest in products within the photonics industry. (9x per year)

Bio & Life Sciences Product Watch

The latest in products within the biophotonics industry. (4x per year)

Laser Processing Product Watch

The latest in products within the laser processing industry. (3x per year)

Get Published!

If you’d like to write an article for us, reach out with a short pitch to Sally Cole Johnson: [email protected]. We love to hear from you.

Photonics Hot List

Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Kimball International (NASDAQ: KBAL) Enters Into Agreement to be Acquired By HNI Corporation (NYSE: HNI) for $485 Million

Kimball International, Inc. (NASDAQ: KBAL) is engaged as an omnichannel commercial furniture, fixtures and appliances. The Jasper, Indiana-based company has been in business for over 70 years and operates the following brands: Kimball, National, Etc., Interwoven, Kimball Hospitality, D’style, and Poppin. Shares of the commercial furniture company are surging 84% through early trading on Wednesday, March 8, 2023. Over the past three months, Kimball International has seen average daily volume of 127,550 shares. However, volume of 6.93 million shares or dollar volume of around $85.45 million, has already exchanged hands through early trading.

Shares of Kimball International are rallying after the company announced it has entered into a definitive agreement to be acquired by HNI Corporation (NYSE: HNI), a workplace furnishings and residential building products company. Under the terms of the deal, HNI will acquire all outstanding shares of Kimball International in a cash and stock transaction worth $485 million.

Kimball shareholders would receive $9.00 in cash and 0.1301 shares of HNI common stock for each share of Kimball International common stock owned. Kimball shareholders will own 10% of combined company post-acquisition.

The merger would create a new commercial furnishings powerhouse, combining two companies each with over 70 years of experience in the industry. As a result, the combined entity will have enhanced manufacturing capabilities, greater product offerings, expanded geographical reach, and other synergies.

On a combined basis, the new company will have a pro forma annual revenue of around $3.1 billion and pro forma adjusted EBITDA of $290 million, when taking into account annual run-rate synergies.

The transaction has already been approved by the Board of Directors of both Kimball and HNI, but remain subject to Kimball shareholder approval, regulatory approval and other customary closing conditions. Management estimates the acquisition to close sometime during mid-2023.

“We are excited about joining with Kimball International, a high-quality company we have long admired for its recognized brands, furnishings expertise built over 70 years, and established relationships across multiple sectors. The combined company will have a stronger platform for growth, delivering significant benefits for our shareholders, members, dealers, and customers. We look forward to welcoming the talented Kimball International employees to HNI,” said Jeff Lorenger, HNI’s Chairman, President, and Chief Executive Officer.

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

The post Kimball International (NASDAQ: KBAL) Enters Into Agreement to be Acquired By HNI Corporation (NYSE: HNI) for $485 Million appeared first on Spotlight Growth.

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.