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Creo Medical acquires Aber Electronics for undisclosed sum
12th Nov 2021 09:38
(Sharecast News) - Medical device company Creo Medical Group has acquired power amplifier and radio frequency products manufacturer and designer Aber Electronics for an undisclosed, fixed cash consideration, plus a contingent consideration over a three-year period.
Creo, an existing customer of Aber, said the acquisition would complement its research, design and manufacturing processes, provide additional specialist microwave and radio frequency capability and expertise within the business and enhance a key element of the group's supply chain.
The AIM-listed firm anticipates leveraging the additional resource and expertise that it acquires via the addition of Aber to further develop its Kamaptive Technology, the advanced energy which powers its CROMA platform.
Chief executive Craig Gulliford said: "Being an existing customer of Aber and having worked closely with the management team for a number of years, we are familiar with the quality of its products and the team there, and I'd like to welcome them all to the Creo group.
"This acquisition fits with the 'buy' aspect of our three-tiered 'build, buy, partner' strategy, in acquiring a company with existing manufacturing operations, to complement and add capability in Creo's product development and production."
As of 0935 GMT, Creo Medical shares were up 0.97% at 156.50p.
Creo, an existing customer of Aber, said the acquisition would complement its research, design and manufacturing processes, provide additional specialist microwave and radio frequency capability and expertise within the business and enhance a key element of the group's supply chain.
The AIM-listed firm anticipates leveraging the additional resource and expertise that it acquires via the addition of Aber to further develop its Kamaptive Technology, the advanced energy which powers its CROMA platform.
Chief executive Craig Gulliford said: "Being an existing customer of Aber and having worked closely with the management team for a number of years, we are familiar with the quality of its products and the team there, and I'd like to welcome them all to the Creo group.
"This acquisition fits with the 'buy' aspect of our three-tiered 'build, buy, partner' strategy, in acquiring a company with existing manufacturing operations, to complement and add capability in Creo's product development and production."
As of 0935 GMT, Creo Medical shares were up 0.97% at 156.50p.