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news.Volcano Corporation, a developer of intravascular ultrasound and functional measurement products, has closed its previously announced acquisition of Axsun Technologies, a developer and manufacturer of lasers and optical engines used in medical optical coherence tomography imaging systems.
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Under the terms of the acquisition agreement, which was announced on December 23, 2008, Volcano paid approximately $21.5 million in cash at closing. Axsun will operate as a wholly-owned subsidiary of Volcano.
According to Volcano, the Axsun’s optical coherence tomography (OCT) technology will accelerate its OCT product development programs and provide the company competitive advantages in the invasive imaging sector.