On December 23rd Bitplane's shareholders signed an agreement for the sale of 100% of the issued share capital to Andor Technology PLC (Andor).
Andor is based in Belfast, Northern Ireland and operates at the high-value end of the global scientific digital camera market. It was setup in 1989 out of Queen's University in Belfast. Andor now employs over 200 people in 15 offices worldwide and distributes its products to 10,000 customers in 55 countries.
Andor Technology plc (Andor) is a world leader in scientific imaging, spectroscopy solutions and microscopy systems. The company develops and manufactures a range of high performance digital cameras and their associated products for research and OEM markets. Andor have been innovating in the photonics industry for over 20 years, enabling scientists worldwide to measure light down to a single photon and capture events occurring within 1 billionth of a second.
Andor Technology PLC listed on the London Stock Exchange's Alternative Investment Market (AIM) and commenced dealings in its Ordinary Shares on 3 December 2004 (AND:LSE).
Bitplane's existing management and employees will remain with the business which will continue to trade as Bitplane following completion.
Commenting on the Acquisition, Conor Walsh, Chief Executive, said: "Bitplane is a world leader in 3D and 4D image analysis software and complements Andor’s existing business, especially the rapidly growing systems division. Bitplane is cash generative, has a history of strong revenue growth and will be immediately earnings enhancing. We are delighted Marius and his team will stay with the business and we are excited about the further growth opportunities this acquisition will deliver."
Dr Marius Messerli, founder of Bitplane said: "We are delighted to be joining Andor. We believe that the market for advanced image processing is underexploited and as part of a larger organization Andor brings the capacity and systems knowledge to further develop both our customer base and our technology roadmap. The combination of expertise will enable us to provide integrated solutions for the understanding of the cellular processes."