IPG Photonics Corporation (NasdaqGS:IPGP) agreed to acquire submarine optical systems division from Padtec S.A. for BRL 75 million on January 18, 2019. The division being acquired also includes the structure for submerged plant deployment, operation and maintenance services. The transaction is subject to customary closing conditions. The transaction has been approved by the Board of Directors of IPG photonics and Padtec. The deal is expected to close in the first quarter of 2019. The proceeds from the sale of division will be directed to research and development and to the expansion of the Padtec in the global market. The deal is not expected to be material to IPG's financial results for the fiscal year ended December 31, 2019. IGC Partners acted as financial advisor and Barbosa, Raimundo, Gontijo e Câmara Advogados acted as legal advisor to Padtec. KPMG Corporate Finance LLC acted as due diligence provider to IPG Photonics Corporation.