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E2V buys Spanish image sensor specialist for €34 million

E2V buys Spanish image sensor specialist for €34 million

Business news |
By eeNews Europe



The agreed price is €29.2 million (about £23.2 million or $39 million) with the possibility that the AnaFocus management team, which is staying with the business, earning up to an additional €5 million in cash dependent meeting certain targets including revenue growth.

AnaFocus, which was founded in 2004, will become an integral part of the machine vision business within e2v’s imaging division, which grew by 26 percent last year.

AnaFocus offers custom sensor design capabilities, expertise in ‘vision system-on-a-chip development’, and growing portfolio of products, complementing e2v’s established position in machine vision markets, the company said.

Anafocus is expected to generate sales of about €11 million (about $15 million) in the 2014 calendar year. The initial purchase price is made up of €26.5 million in cash consideration for the business, and assumed net debt of €2.7 million. The deal is expected to complete in September 2014.

"AnaFocus adds technology, people and customers to our machine vision business. It strengthens our position in the market, bringing to e2v a successful management team with deep technology capabilities and close relationships with customers that complement e2v’s relationships," said Steve Blair, CEO of e2v Technologies plc, in a statement.

Related links and articles:

www.e2v.com

www.anafocus.com

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