UK-based optical components and systems manufacturer Gooch & Housego has acquired Constelex Technology Enablers Limited, a designer and manufacturer of advanced photonic systems.
The gross consideration paid by G&H will be €650,000, comprising…
UK-based optical components and systems manufacturer Gooch & Housego has acquired Constelex Technology Enablers Limited, a designer and manufacturer of advanced photonic systems.
The gross consideration paid by G&H will be €650,000, comprising €400,000 in cash, funded from existing cash and debt facilities, at completion, followed by €250,000 in G&H shares once activities are relocated to the UK.
Based in Athens, Greece, privately-owned start-up Constelex develops low-noise optical fibre amplifiers for predominantly space and satellite applications. The company has secured funding from the European Union to develop its photonic systems and has signed contracts with the European Space Agency.
G&H stated that the strategy behind the acquisition was not just to obtain Constelex’s capability in photonic systems for space applications, but also its relationships with satellite manufacturers and space agencies as well as its participation in a number of product development contracts and R&D funded programmes. The objective of these activities is to develop and demonstrate next generation systems applicable to satellite communications. G&H said that by working in collaboration with satellite manufacturers there is a clear route to commercial exploitation of the technology.
G&H’s wider strategic objective is to move up the value chain by leveraging its skills in components to develop a higher-added-value capability at the sub- systems and systems level. In February this year G&H established the Systems Technology Group (STG) at its Torquay, UK, facility to function as a separate business unit with a remit to design, develop and prototype systems-level products.
In early 2014, the Constelex team will relocate to Torquay and become fully integrated into the STG. Operations in Greece will be effectively wound-up at that time.
Gareth Jones, Chief Executive of G&H commented: “Building upon the creation of the Systems Technology Group earlier this year, the acquisition of Constelex demonstrates Gooch & Housego’s commitment to accelerating organic growth through the development of high added-value photonic systems for new markets such as space and satellite communications.”