Over 300 million US dollars! German optoelectronic giant Jenoptik will acquire 2 companies to expand the medical optics market

2021-10-25 13:59 Source: OFweek Optical Network

German optoelectronics industry giant Jenoptik recently announced that it will acquire two companies under Berliner Glas:

-Berliner Glas Medical-a supplier of high-precision customized optical components for the medical technology field.

-Swiss Optics (SwissOptic AG) and SwissOptic (Wuhan) Co., Ltd.-mainly for the medical technology, semiconductor and metrology industries to develop and manufacture optical components and components professional field companies.

In the field of medical technology, Jenoptik will acquire Berliner Glas medical’s complementary product portfolio in dentistry (intraoral scanner) and robotic surgery, while strengthening its ophthalmology and life sciences business through SwissOptic’s activities.

According to reports, the acquisition is expected to nearly double the size of Jenoptik's medical technology business in this end market.

At the same time, SwissOptic's semiconductor business will further complement Jenoptik's product portfolio and enable Jenoptik to provide a wider range of solutions for existing and new customers.

In addition, Jenoptik will deepen its existing, long-term business relationship with ASML and include it as a reliable supplier and strategic partner. ASML is one of the key players in the semiconductor industry and a well-known manufacturer of lithography systems. In 2020, ASML acquired Berliner Glas.

The above transaction is expected to be completed in December 2021 and still needs to be approved by the German Federal Cartel Office (Bundeskartellamt). Jenoptik said the purchase price after the merger is approximately 300 million euros ($349.7 million). In 2022, the acquired company is expected to contribute approximately 130 million euros ($151.5 million) in revenue.

According to reports, the funds for the acquisition will come from Jenoptik's existing cash and unused credit lines. Even after the completion of the acquisition, Jenoptik will still have a very healthy balance sheet and good financial situation. The transaction will have a positive impact on Jenoptik's operating results in 2022 (excluding PPA impact).

Bliner Glas Medical and SwissOptic currently have approximately 500 employees worldwide. It is expected that after the completion of the acquisition, the management will continue to perform its current functions in Berliner Glas Medical and SwissOptic under the Jenoptik Group.