Fibre laser expert IPG Photonics has signed an agreement to acquire laser system manufacturer Innovative Laser Technologies for $40 million

The increasing traction of fibre lasers replacing conventional lasers in materials processing has led to IPG and Coherent’s latest quarterly revenues being higher than expected, both firms have reported

The global market for laser systems for materials processing reached a record volume of $12.6 billion in 2016 after increasing 6.8 per cent