18th Feb 2016 07:58
LONDON (Alliance News) - Scientific instruments manufacturer Judges Scientific PLC on Thursday said it has struck a deal to acquire Hampshire-based instrument maker CoolLED Ltd.
It will pay GBP3.5 million in cash initially to acquire the company, with a further GBP1.0 million payable based on CoolLED hitting earnings targets for the year to the end of June.
CoolLED makes illumination systems for fluorescence microscopy, a growing niche in the life sciences sector, Judges said. LED light sources are progressively replacing conventional mercury-based lighting systems in new installations in the industry, it added.
"CoolLED is a world class company, with an excellent reputation in its niche market within the life-sciences sector, and its positive impact on the group's financial performance should be immediate," said Judges Chairman Alex Hambro.
By Sam Unsted; [email protected]; @SamUAtAlliance
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