E2V Technologies Buys Gresham

CHELMSFORD, England, July 28 -- E2V technologies plc announced it has acquired Gresham Scientific Instruments Ltd. for approximately 5.1 million euros.

Gresham, based near High Wycombe, is an independent manufacturer of x-ray detectors and associated products for energy dispersive x-ray and x-ray fluorescence spectrometry. These products are primarily used in scanning and transmission electron microscopes for scientific applications and also in industrial applications such as mining and the detection of harmful heavy metals in food. The company supplies products worldwide to OEMs, industrial and scientific end users and accelerator research laboratories. More than 70 percent of its sales are exported. In addition, Gresham is the UK distributor for Skyscan micro-computed tomography scanner systems that are used in nondestructive 3-D x-ray imaging.

Gresham, which has 30 employees, was founded by Rob Sareen, Mike Taylor and Tony Bosley in 1997 with backing from venture capital firm 3i. Bosley, managing director of Gresham, will continue to run the business on a day-to-day basis and will retain his responsibilities in directing its growth.

E2V said the acquisition introduces new technologies and products to its sensors portfolio in the medical and science sectors and provides Gresham with opportunities for growth due to its global distribution channels and its established presence in the US.

Keith Attwood, CEO of E2V technologies, added, "In our recent preliminary results announcement we made reference to pursuing acquisition targets, and accordingly, we are delighted to have concluded the purchase of Gresham Scientific Instruments. Gresham has excellent technology, with skilled employees and a well-established customer base. We are confident Gresham will be a valuable addition to our growing sensors business."

For more information, visit: www.e2v.com