e2v to buy AnaFocus
e2v is to buy AnaFocus of Seville, the CMOS imaging sensor specialist, for €34 million.
The purpose of the deal is to accelerate e2v’s product development.
AnaFocus had revenues of €5.6 million and EBITA of €80,000 last year. Revenues are expected to be €11 million this year with a margin in the mid to high teens.
The price includes €26.5 million of cash and €2.7 million of assumed debt.
The management team has been given an earn-out deal worth €5 million over the next two years.
e2v will pay for the deal with a £90 million banking facility.