Business News | Jul 29, 2010

Halma Acquires SphereOptics - Now Owns Labsphere & SphereOptics

Safety, health and sensor technology group Halma announced Friday it has acquired SphereOptics LLC for an initial cash consideration of $2.5 million.
The Jan. 19 transaction was made from current management and financial shareholders, Halma said.
Concord, N.H.-based SphereOptics makes precision standard and custom radiometric and photometric products for the aerospace, automotive, electronic imaging, laser diode, LED, lighting, medical imaging and optics industries. SphereOptics will be merged with Labsphere Inc., a photonics business also based in New Hampshire, within Halma's Health and Analysis sector. That sector also includes the businesses Ocean Optics, Ocean Thin Films, Fiberguide Industries and Palintest; Halma's other sectors include Infrastructure Sensors and Industrial Safety.
For the calendar year 2009, SphereOptics had unaudited revenues of $4.3 million and gross assets of $1.8 million. The acquisition, which is immediately earnings enhancing, was funded from Halma's existing cash and debt facilities.
Deferred purchase consideration of up to $3.5 million is payable to the vendors, based on the growth in profit before tax for the period ending March 2012.
"The combination of SphereOptics and Labsphere further strengthens our position as a market leader in light metrology and continues our strategy of increasing our presence within the growing photonics market sector," said Andrew Williams, Halma's chief executive.
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