French scientific camera firm acquired by Andor owner Oxford …
Earlier this week, Andor Technology announced a GBP15m Belfast expansion
First Light’s cameras are used in some of the largest telescopes in the world, including the world’s largest single-aperture optical telescope, the Gran Telescopio Canarias in the Canary Islands – credit Judith Engbers
Staff at First Light near Aix-en-Provence, which has now been bought by Oxford Instruments plc. It also owns Andor Technology in west Belfast
Margaret Canning
Today at 16:51
The parent company of Andor Technology in west Belfast has acquired a French scientific camera specialist in a deal worth nearly EUR20m (GBP17m).
Oxford Instruments plc’s new acquisition First Light designs and manufactures high-speed, low-noise scientific cameras for infrared and visible imaging for astronomy and life sciences
First Light, based near Aix-en-Provence, is now part of Oxford Instruments Andor, with a common customer base including universities and companies.
Oxford Instruments said First Light’s cameras were “highly complementary to Andor’s existing scientific camera portfolio” with the acquisition bringing opportunities for expansion.
It’s paying an initial cash consideration of EUR15.7m, on a cash-free, debt-free basis, with another EUR3m in cash conditional on First Light’s trading performance over a 12-month period following completion.
First Light’s estimated revenue for the 12 months to 31 December 2023 is EUR8m (GBP7m), with return on sales below the average for the group.
Richard Tyson, chief executive officer of Oxford Instruments plc, said: “We are delighted to welcome the talented First Light team to Oxford Instruments.
Like us, they have a reputation and track record for quality, innovation and scientific expertise, and their leading range of products dovetails well with our scientific camera portfolio.
“Joining forces will significantly enhance our world-class camera offering to our combined customer base and drive First Light’s next phase of growth as part of the wider group.
“Our expanded portfolio will help us accelerate our customers’ roadmaps in the life science market and in physical sciences, a long-standing area of strength for Oxford Instruments.”
David Boutolleau, co-founder of First Light, said: “Joining Oxford Instruments and Andor is a real opportunity for First Light Imaging.
“After 12 years building First Light as a successful independent business, it became clear that to take the business to the next stage of its development, we would need industrial and commercial support to reinforce our manufacturing, technology and routes to market.
“Our acquisition by Oxford Instruments Andor accelerates our growth and secures our future for our customers, partners and employees.”
Earlier this week, Andor Technology announced a GBP15m expansion in Belfast[1] as it revealed rising profits and turnover.
References
- ^ announced a GBP15m expansion in Belfast (www.belfasttelegraph.co.uk)