Andor acquires CCD manufacturer Apogee Imaging Systems
Belfast-based Andor Technology has acquired Californian CCD manufacturer, Apogee Imaging Systems, for £2.32 million. A further £0.21 million may be payable under certain performance criteria and it is expected that Andor will receive in excess of US £0.4 million of net assets as part of the acquisition.
Apogee manufactures and supplies cooled CCD cameras to government laboratories, astronomers and instrumentation manufacturers. The company employs 19 staff, including the original founders, who will remain with the business following completion.
The announcement follows Andor’s acquisition of Toronto-based Spectral Applied Research for £6.8 million. Spectral is a manufacturer of optical systems for the cell biology research community.
Andor expects Apogee to deliver revenue in the first year of Andor ownership of £2.79 million. Commenting on the acquisition, Conor Walsh, chief executive of Andor, said: ‘This is a strategic acquisition for Andor, as it significantly broadens our mid-range camera offering. The Apogee portfolio allows us to leverage our existing OEM customer base and our global distributor network, both of which currently source these products elsewhere. I am delighted to welcome the Apogee team to Andor, building on our recent acquisition of Spectral Applied Research. We are confident both businesses will contribute positively to the expanded Andor group.’
Apogee’s Alta camera series is designed to offer a broad range of sensor options and is particularly attractive to both the astronomy community and as an OEM solution in the life science instrumentation market. Along with the new Aspen and Ascent cameras, the portfolio will significantly enlarge Andor’s current mid-range camera offering.
Spectral adds to Andor’s products with its Diskovery platform, a spinning disk confocal system that provides powerful multi-modal imaging with applications in life and physical sciences.