Safety, health and sensor technology group Halma of Amersham,
UK, has acquired Avo Photonics Inc. from Blaine Hobson, Whitecap Partners,
and other shareholders and employees for an initial cash consideration of $9 million.
The Pennsylvania-based Avo designs and manufactures miniaturized photonic components
and subsystems for original equipment manufacturer customers in the medical and
communications markets. Avo joins Halma’s photonics businesses (Fiberguide
Industries, Labsphere, Ocean Optics and Ocean Thin Films) in the health and analysis
sector. The acquisition, immediately accretive to earnings, was funded from Halma’s
existing cash and debt facilities.