30th Oct 2024 09:48
Gooch & Housego PLC - Somerset, England-based photonics components and systems manufacturer - Aquires optical component manufacturer, Phoenix Optical, for a total consideration of up to GBP6.8 million, comprising of an initial cash consideration of up to GBP3.4 million plus additional considerations of up to GBP3.4 million dependent on Phoenix's performance over the next three years. Gooch & Housego says the acquisition will accelerate its reach in the UK and European aerospace and defence markets.
"I am delighted to welcome Phoenix to the G&H Group. Phoenix is a highly capable, well-regarded UK precision optics supplier with a strong portfolio of products and services. Together we will be able to better serve our customers' most complex optical systems requirements," says Chief Executive Officer Charlie Peppiatt.
Current stock price: 425.00 pence, down 0.7% in London on Wednesday morning
12-month change: down 15%
By Lydia Doye, Alliance News reporter
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