Andor, a manufacturer of digital cameras, is to acquire Photonic for a consideration comprising £3.25 million in cash and shares.

Andor, a manufacturer of digital cameras for academic, industrial and government applications, is to acquire the trade and assets of Photonic for consideration comprising $5 million (£3.25 million) in cash and shares.

Photonic is a developer, manufacturer and supplier of laser and lamp based illumination and ablation systems.  The business currently operates from two locations in the US, however manufacturing will move to Andor’s facility in Belfast within the first year and sales will be managed from Andor’s existing US office in Connecticut.

A further consideration of up to $1.95 million may be payable by Andor under an earn-out provision. The existing management and founders will remain with the business following completion of the deal. 

At the end of last year, Andor completed the acquisition of Bitplane, a Zurich-based company that specialises in 3D and 4D image analysis software.