4th Aug 2014 08:08
LONDON (Alliance News) - Technology solutions provider e2v Technologies PLC Monday said it has agreed to acquire Innovaciones Microelectronicas SL, known as AnaFocus, for up to EUR34.2 million.
AnaFocus is a Seville, Spain-based designer and developer of complementary metal oxide semiconductor imaging sensors and will become part of the High Performance Imaging business at e2v.
The deal will comprise an initial cash component of EUR29.2 million, including EUR26.5 million in cash for the business and assumed net debt of EUR2.7 million. In addition, the deal includes up to EUR5 million for the AnaFocus management team dependent on hitting 'stretch' integration targets, e2V said.
"AnaFocus adds technology, people and customers to our Machine Vision business," said e2v Technologies Chief Executive Steve Blair.
"We see immediate opportunities to apply the technical capabilities of AnaFocus to provide enhanced offerings to our joint customers," he added.
e2v shares were up 1.1% to 157.00 pence Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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