LONDON — E2v Technologies plc, based in Chelmsford, UK, has announced it has agreed to acquire Innovaciones Microelectronicas SL, of Seville, Spain, which trades as AnaFocus and supplies CMOS image and vision sensors for the industrial, professional, scientific, medical, and high-end surveillance markets.
The agreed price is €29.2 million (about £23.2 million or US$39 million) with the possibility that the AnaFocus management team, which is staying with the business, could earn up to an additional €5 million in cash, dependent on meeting certain targets including revenue growth.
AnaFocus, which was founded in 2004, will become an integral part of the machine vision business within e2v's imaging division, which grew by 26 percent last year.
AnaFocus offers custom sensor design capabilities, expertise in "vision system-on-a-chip development," and a growing portfolio of products, complementing "e2vís established position in machine vision markets," the company said.
Anafocus is expected to generate sales of about €11 million (about $15 million) in the 2014 calendar year. The initial purchase price is made up of €26.5 million in cash consideration for the business and assumed net debt of €2.7 million. The deal is expected to complete in September 2014.
"AnaFocus adds technology, people, and customers to our machine vision business. It strengthens our position in the market, bringing to e2v a successful management team with deep technology capabilities and close relationships with customers that complement e2v's relationships," said Steve Blair, CEO of e2v, in the company statement.
—Peter Clarke writes about sensors for EE Times Europe.
Article originally published on EE Times Europe.