Andor Acquires Bitplane
Andor Technology plc of Belfast, UK, a digital camera manufacturer, has acquired microscopy image analysis software company Bitplane of Zurich, Switzerland, for £7.46 million in cash and 283,851 shares. An additional consideration in the form of cash and Andor shares of a maximum aggregate value of £0.51 million may be payable under an earn-out provision if the latter company exceeds an agreed-upon “earnings before interest, taxes, depreciation and amortization” target. Guernsey-based Endeavour LP was the majority owner of Bitplane.
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