GSI Lumonics (Billerica, Massachusetts) reported a company name change from GSI Lumonics to GSI Group. The company also announced a new trading symbol on the Nasdaq stock exchange: GSIG.

GSI Group will be led by the same management team. The new name reflects the “significant change” the company has undergone in its business during the past four years by emphasizing its major brand-name products, it said. The new name also capitalizes on the name recognition of GSI and builds upon the brand name recognition from recent acquisitions.

GSI Group supplies precision motion control components, lasers and laser- based advanced manufacturing systems to the medical, semiconductor, electronics, and industrial markets.