Belfast-based scientific camera maker Andor Technology has snapped up Californian technology firm Apogee Imaging Systems for US$3.75m in cash
The deal for Apogee, whose cameras have been used for applications in space as well as observatories on the…
Belfast-based scientific camera maker Andor Technology has snapped up Californian technology firm Apogee Imaging Systems for US$3.75m in cash
The deal for Apogee, whose cameras have been used for applications in space as well as observatories on the ground, could increase by as much as US$340,000 under certain performance criteria.
Andor said the acquisition will bolster its mid-range camera offering, and the company’s products are particularly attractive to both the astronomy and life sciences sectors.
Conor Walsh, Andor’s chief executive, said: “The Apogee portfolio allows us to leverage our existing OEM (original equipment manufacturer), customer base and our global distributor network, both of which currently source these products elsewhere.”
Apogee employs 19 staff, including the original founders who will remain with the business following completion.
According to Andor, the deal will deliver first year revenue of US$4.5m.
It comes hot on the heels of its C$11.3m acquisition in October of Toronto-based Spectral Applied Research, which built and tested the payload instrument on Canada’s latest microsat called NEOSSat, or Near-Earth Object Surveilance Satellite.