Multispectral Imaging Specialist joins Halma

Health and environmental technology group Halma has acquired  FluxData Inc. has joined Halma, a provider of multi-spectral and polarimetric imaging systems for a wide range of applications, including high volume production quality control, medical imaging, food and agricultural analysis, traffic control and air and water analysis for environmental protection.

The cash consideration was $12.0 million (£9.8 million) adjustable, US$ for US$, if the net assets are more or less than a pre-determined amount (the adjustment is not expected to be material). Further contingent consideration of up to $15.5 million (£12.6 million) may be payable based on performance to 31 March 2019. The acquisition, which is expected to be immediately earnings enhancing, was funded from Halma’s existing cash and debt facilities.

 “FluxData is a great addition to Halma’s Environmental and Analysis sector as it advances our knowledge of and applications in spectral imaging,” said Sector Chief Executive Chuck Dubois. “Some of their products and manufacturing processes incorporate components from other Halma photonics companies. We expect that these and other collaborative relationships will increase with FluxData as part of the group, providing many opportunities for future innovation and invention.”

“FluxData's access to Halma's wide array of resources will allow us to grow and mature as a company, accessing new markets and delivering more solutions to new and existing customers across the globe,” said FluxData president, Pano Spiliotis. “In addition, we have the opportunity to work directly with Halma's portfolio of companies to leverage our strength of delivering complex systems. It was a natural fit to join Halma and we look forward to future opportunities.”

Halma’s Environmental and Analysis sector includes leading photonics companies Ocean Optics, Labsphere Avo Photonics and Fiberguide Industries.