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Subsequent Events | 12 Months Ended
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Dec. 31, 2013
Subsequent Events | 18. Subsequent Events Agreement to Acquire JADAK On February 18, 2014, the Company entered into a definitive agreement to acquire JADAK LLC, JADAK Technologies Inc. and Advance Data Capture Corporation (together, “JADAK”), a North Syracuse, New York-based provider of optical data collection and machine vision technologies to OEM medical device manufacturers, for $93.5 million in cash. The transaction, which is subject to customary closing conditions, is expected to close in March 2014. JADAK is a leading supplier of camera-based machine vision technologies that reduce medical errors and enhance safety in a wide range of medical procedures. JADAK’s customer base consists of many leading medical OEM customers, many of whom are existing GSI customers. Letter of Intent to Divest the Scientific Lasers Business On January 31, 2014, the Company signed a letter of intent to sell certain assets and liabilities of its scientific lasers business, sold under the Continuum brand name, for $7.5 million in cash, subject to successful completion of confirmatory due diligence by the potential acquirer, entry into a definitive agreement and customary closing conditions. In addition, the agreement includes contingent consideration of up to $3.0 million based on the achievement of certain 2014 revenue targets. In accordance with ASC 360-10-45-9, “Property, Plant and Equipment – Overall – Other Presentation Matters – Long-Lived Assets Held for Sale,” the Company expects that the business will qualify as “Held for Sale” and will also be reported as a discontinued operation in the first quarter of 2014. During the years ended December 31, 2013, 2012, and 2011, the scientific lasers business generated revenues of approximately $25 million, $28 million, and $35 million, respectively. The loss on the sale of the business before taxes is expected to be approximately $1.5 million to $2.5 million. As of December 31, 2013, total assets and liabilities were approximately $14 million and $4 million, respectively.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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