Business
Acquisition and Trading Update
Acquisition and Trading Update.
About this update from Gooch & Housego Plc
[{"type":"text","content":"\n \nRNS Number : 0842E Gooch & Housego PLC 01 April 2011 \n \n\n \n\n\n\n\nFor immediate release \n\n\n 1 April 2011\n\n\n\n\n \n \nGooch & Housego PLC \n(\"G&H\" or the \"Company\")\n \nAcquisition of Crystal Technology, LLC and Trading Update\n \n \nAcquisition\n \nGooch & Housego PLC, the specialist manufacturer of optical components and systems, today announces that it has acquired Crystal Technology, LLC, (Crystal Technology) a Palo Alto, California, based manufacturer of acousto-optic, electro-optic and fibre optic components and systems, and oxide single crystal materials for optical applications, for a total consideration of $13.75 million (approximately £8.6 million) comprising $9.625 million for the business and $4.125 million in respect of near cash equivalents being left in the business upon sale. The consideration is payable in two tranches with $10.5 million payable in cash on completion and a further $3.25 million on 31st March 2012. Crystal Technology will be integrated with the Company's existing acousto-optic, electro-optic and fibre optic operations, significantly enhancing G&H's already strong presence in these sectors.\n \nComprising those parts of the business of Crystal Technology, Inc. with applications in acousto-optics, electro-optics and fibre optics, the product range of Crystal Technology is highly complementary to that of G&H. G&H is the leading manufacturer of acousto-optic Q-switches, which are primarily manufactured from silica and glass materials, while Crystal Technology specialises in non-Q-switch acousto-optic devices that are manufactured predominantly from tellurium dioxide, an oxide single crystal material. While Crystal Technology has a capability in Q-switches and G&H has become active in tellurium dioxide devices in recent years, there is limited overlap in terms of products and customers. Crystal Technology's leadership in tellurium dioxide products can in part be attributed to its ability to grow some of the best crystals available anywhere in the world. The strategic importance of this material is such that G&H had begun to develop its own crystal growth capability, but this acquisition will enable G&H to become self-sufficient in tellurium dioxide crystals.\n \nCrystal Technology will co...