Gooch & Housego buys Crystal Technology

1st Apr 2011 07:29

Optical components maker Gooch & Housego announced its has bought California based acousto-optic manufacturer Crystal Technology for $13.75m.The deal comprises of $9.625m for the business and $4.125m in respect of near cash equivalents being left in the business upon sale, Gooch & Housego confirmed in a company statement. Commenting on the acquisition, chief executive Gareth Jones said, "The acquisition of Crystal Technology consolidates Gooch & Housego's global leadership in the field of acousto-optics and provides self-sufficiency in the strategically important crystals that are central to several of our most exciting new products."In the same statement Gooch & Housego said market conditions remain favourable and trading, supported by a strong order book, has continued ahead of management expectations. It added that the integration of EM4 is progressing to plan as a number of opportunities to supply customers with complex solutions incorporating both active and passive fibre optic components are developed. CJ