June 9, by Steven R. Gerbsman Partners — http: The sale is being conducted with the cooperation of Raydiance. Raydiance and its employees will be available to assist purchasers with due diligence and assist with a prompt transition. The information in this memorandum does not constitute the whole or any part of an offer or a contract.

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The information contained in this memorandum relating to the Raydiance Assets has been supplied by third parties and obtained from a variety of sources. It has not been independently investigated or verified by Gerbsman Partners or their respective agents.

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Interested parties should satisfy themselves through independent investigations as they or their legal and financial advisors see fit. Without limiting the generality of the foregoing, the Company, Gerbsman Partners, and their respective directors, officers, staff, agents, and attorneys, hereby expressly disclaim any and all implied warranties concerning the condition of the Raydiance Assets and any portions thereof, including, but not limited to, environmental conditions, compliance with any government regulations or requirements, the implied warranties of habitability, merchantability, or fitness for a particular purpose.

Raydiance develops, manufactures and markets precision manufacturing solutions enabled by femtosecond laser technology. Raydiance originated from a DARPA-funded research project at the University of Central Florida. Initial external funding came from entrepreneur Barry Schuler former AOL CEO , who was recruited by DARPA to commercialize the technology.

In , the company moved its headquarters to Petaluma, CA where it is currently occupies a 40, ft2 facility. Headcount currently totals 61 full-time employees.

The management team and Board of Directors is compromised of:. Jeff Safchik — MD, Greenstreet Partners William R. Sapers — Vice President, Operations Dr. Sri Srinivas — SVP, Business Development.

The chart below gives a historical perspective of Raydiance bookings and billings revenue growth. How Femtosecond Lasers Improve Precision Manufacturing.

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A femtosecond is one quadrillionth of a second. In the world of ultrafast lasers for material processing, light pulsed in the femtosecond regime meaning pulses that are faster than 1 picosecond deliver energy without imparting heat, this is athermal ablation.

Femtosecond laser technology enables all-laser precision manufacturing, which eliminates the need for post-processing such as grinding, etching, sanding or polishing and greatly reduces operating expenses while significantly improving yields. Manufacturers can simplify and optimize factory workflow to reduce cost and accelerate time-to-market for new innovations.

Target Market Opportunity, Focus and Applications. Precision micromachining markets span a wide variety of market segments where precision defines the products. This is true for semiconductors, medical devices, aerospace, automotive and many consumer devices. Also, the world of ophthalmics and precision jewelry and watches depend on very precise processing or machining.

The opportunity is very large however success depends on focus. Raydiance elected to focus in three micromachining segments: This focus is driven by market size and the economic advantages made possible with femtosecond laser-based processing.

Raydiance has established a defensible position in each of these segments by leveraging its unique applications expertise to develop trade secrets and know-how for complete turnkey solutions for customers in each of the segments outlined below. The common theme in all of these application areas is that laser processing allows for single step machining. In other words, traditional mechanical machining or even other laser processing leaves a rough surface after drilling, milling or cutting.

These rough surfaces demand multiple steps and techniques grinding, polishing, chemical etch to achieve desired surface quality for precision parts. Femtosecond laser processing achieves desired surface quality in a single step — a major element of the value proposition. Implantable medical devices including metal nitinol and polymer plastic stents [picture], heart valves, catheter guide wires and surgical needles.

Intricate patterns never before achieved have advanced the efficiency of heart stents helping to prolong and save lives. Femtosecond-based laser machining take a metal or polymer tube and cut the intricate patterns in a single pass yielding substantial cost savings. Fuel injector spray nozzles depend on very precise holes that determine the efficacy of both fuel economy and emissions of all engine types, be it automotive, marine, or industrial.

Femtosecond-based laser machining is advancing the state of the art by allowing for different shape holes and fashioning the entrance and exit of holes. Instead of making smaller and smaller holes the shape of the holes is now allowing manufacturers to meet government regulations more efficiently. The precision of cut glass edges determines the strength of glass and its tendency to break: Femtosecond-based laser machining provides single cut quality eliminating the need to polish surfaces.

Further, new so-called 3D or shaped glass is very well suited to the flexibility of laser-based cutting. Customers Raydiance has strong customer relationship with blue-chip customers across the focus market segments that the company serves.

With over systems shipped or installed worldwide, the company is a worldwide leader amongst ultra short-pulse femtosecond suppliers. In the medical segment , the Company services eight 8 of the top twenty 20 medical device manufacturers worldwide. Customers will be disclosed upon execution of a nondisclosure agreement. In the automotive segment , the Company serves six 6 of the top twelve 12 automotive parts suppliers or manufacturers worldwide.

The Company has recently achieved an applications breakthrough to uniquely and efficiently micromachine diesel fuel injectors holes and has pending designs wins with diesel-focused customers. In the consumer segment , the company serves some of the largest customers including Samsung.

The applications focus is on glass cutting and display repair. The intellectual property of the Company consists of 33 issued patents and 20 pending patents reflecting a first-to-market position. The patent strategy is both defensive and offensive.

The Company includes a royalty free software license with products sold but reserves the right to charge a future recurring revenue stream based on the development of IP for its applications. Summary reasons why the assets are attractive: Large Market Opportunity — The need for precision manufacturing is growing especially given the need for smaller, lighter cheaper consumer devices.

World class application know-how — Raydiance built a best-in-class applications development team that distinguishes the Company from all other laser manufacturers. Applications knowledge turns standalone lasers into useful, ready-to-use tools. World class fiber-based laser design and manufacturing capability — Raydiance possesses unique knowledge in what is required to design, build and service fiber-based femtosecond lasers.

Diversified Base of Customers — Raydiance laser-based systems are used in three primary market segments medical, automotive and consumer that represents manufacturing application diversity. This diversity also creates cross-selling opportunities between the market segments and customers. The same is true with femtosecond lasers and the programming required to unleash the capabilities for solving unique material problems or precision part fabrication.

Depending on the specific application, the package elements vary. The key elements include the laser, the optics may include a scanner to direct the beam, the part holding capability and ultimately the software programming that transforms a standalone laser into an integrated factory floor ready production tool.

Raydiance recognized early that to harness the market opportunity one needs to provide turnkey solutions full packages for customers. This unique market approach is what distinguishes Raydiance and leads to these reasons for why the assets are attractive. The acquisition of these assets can enable the purchaser to realize significant short and long term value from the Raydiance assets as Raydiance maintains the ability to quickly scale within the context of sufficient working capital and a stronger balance sheet.

Worldwide laser sales are projected to increase 6.

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Applications knowledge turns standalone lasers into useful, ready-to-use tools: The company pioneered the use of real-time computer-controlled pulse stabilization and control, and the amplification techniques to achieve efficient use of fiber for high power, ultra-short pulsed lasers.

The diversity also creates cross-selling opportunities between the market segments and customers. Customers are highly dependent on the Raydiance technology today in critical applications where there is no other economical means to produce such high-precision parts is available. The company has a long standing history of discoveries and inventions that are pushing the adoption of femtosecond laser technology into a broader set of applications in each of the target market segments.

Precision Machining without Heat — a white paper on the physics of no heat machining. Medical Applications Overview — learn about the economics of femtosecond processing in the medical implantable device market segment.

Laser Spec Sheet — an overview of the technical aspects of the key component of Raydiance solutions. R-Drill Spec Sheet — learn how Raydiance packages the needed pieces together to turn a standalone laser into a useful tool.

Safari does not work with the above links. Each interested party, as a consequence of the Due Diligence Access granted to it, shall be deemed to acknowledge and represent i that it is bound by the bidding procedures described herein; ii that it has an opportunity to inspect and examine the Raydiance Assets and to review all pertinent documents and information with respect thereto; iii that it is not relying upon any written or oral statements, representations, or warranties of Gerbsman Partners or Raydiance, or their respective staff, agents, or attorneys; and iv all such documents and reports have been provided solely for the convenience of the interested party, and Raydiance and Gerbsman Partners and their respective, staff, agents, or attorneys do not make any representations as to the accuracy or completeness of the same.

Following an initial round of due diligence, interested parties will be invited to participate with a sealed bid, for the acquisition of the Raydiance Assets. Please also email steve gerbsmanpartners. Bids should identify those assets being tendered for in a specific and identifiable way. Any person or other entity making a bid must be prepared to provide independent confirmation that they possess the financial resources to complete the purchase where applicable.

The winning bidder will be notified within 3 business days of the Bid Deadline. Unsuccessful bidders will have their deposits returned to them within 3 business days of notification that they are an unsuccessful bidder. Raydiance reserves the right to, in its sole discretion, accept or reject any bid, or withdraw any or all of the assets from sale.

Interested parties should understand that it is expected that the highest and best bid submitted will be chosen as the winning bidder and bidders may not have the opportunity to improve their bids after submission. Raydiance will require the successful bidder to close within a 7 day period. All sales, transfer, and recording taxes, stamp taxes, or similar taxes, if any, relating to the sale of the Raydiance Assets shall be the sole responsibility of the successful bidder and shall be paid Raydiance at the closing of each transaction.

Gerbsman Gerbsman Partners steve gerbsmanpartners. Hardesty , Raydiance , steven r gerbsman Leave a Comment. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. The Bidding Process, Procedures for the Sale of certain Assets and Intellectual Property of Raydiance, Inc. Production Machine Raydiance Femtosecond Laser Raydiance originated from a DARPA-funded research project at the University of Central Florida.

The management team and Board of Directors is compromised of: Fisher , Managing Director, Draper Fisher Jurveston Jeff Safchik — MD, Greenstreet Partners William R.

The Xompany is recognized as a pioneer in two key aspects of laser-based micro-machining: How Femtosecond Lasers Improve Precision Manufacturing A femtosecond is one quadrillionth of a second. Target Market Opportunity, Focus and Applications Precision micromachining markets span a wide variety of market segments where precision defines the products.

Summary of Intellectual Property The intellectual property of the Company consists of 33 issued patents and 20 pending patents reflecting a first-to-market position. Detailed reasons why Raydiance assets are attractive are: LinkedIn Email More Print Facebook Twitter Reddit. Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.

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