PARIS CEA Valorisation, an equity investor for the French Atomy Energy Agency (CEA), announced it has divested its stake in Ulis, Sofradir's subsidiary specializing in uncooled infrared detectors for low cost infrared civilian and military imaging equipment, to General Electric (GE). Financial details remained undisclosed.
Under the terms of the agreement, GE said it has obtained a 15-percent ownership in Ulis. Sofradir remains the principal shareholder with 85 percent.
CEA Valorisation specified that its exit is in line with the 2002 shareholder agreement that allows an exit after a five year period.
Founded in 2002 as a subsidiary of Sofradir, Ulis develops and manufactures low cost uncooled long-wave infrared imagers for building inspection, fire-fighter equipment and night vision enhancements for drivers of vehicles, and industrial maintenance and surveillance. Ulis has reported a 50-percent annual growth since 2002, and its sales for 2007 amounted to $60 million.
Located in Veurey-Voroize, near Grenoble, France, Ulis has a manufacturing facility of 2400 m2 that includes 500 m2 of clean rooms. The production capacity enables the site to reach 100.000 microbolometers per year.
Sofradir and Ulis employ 450 people.