Halma buys ocean optics.Amersham, UK 5/29/04 -- Safety and environmental technology company Halma Hal´ma n. 1. (Greek Antiq.) The long jump, with weights in the hands, - the most important of the exercises of the Pentathlon. 1. has agreed to purchase optical sensing optical sensing, in general, any method by which information that occurs as variations in the intensity, or some other property, of light is translated into an electric signal. This is usually accomplished by the use of various photoelectric devices. and electro-optics systems maker Ocean Optics optics, scientific study of light. Physical optics is concerned with the genesis, nature, and properties of light; physiological optics with the part light plays in vision; and geometrical optics with the reflection and refraction of light as encountered in the study for $25.0 million in cash. Florida-based Ocean Optics posted sales of $25.2 million in 2003 and a profit before tax of $4.6 million. It will join Halma's Optics and Specialist Technology Sector. "Ocean Optics will bring an important new technology platform to Halma and we anticipate significant opportunities to transfer this technology to Halma's other core markets. This will be the second acquisition this year within our optics and Specialist Technology division and signals our strategic aim to grow this part of the Group into an important profit contributor," said Halma Chief Executive Stephen O'Shea. The purchase includes additional payments of up to $25.0 million based upon 100% profit growth between April 2004 and March 2006. Ocean Optics should prove to be a very nice fit with Halma because of Ocean Optics' diverse and extensive product portfolio and its unique miniature instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. . Halma will also be a good platform from which to expand the market presence of Ocean Optics. Halma's purchase price is based upon assumed net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of $6.1 million, with adjustments of net assets at completion resulting in dollar for dollar adjustments. |
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