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(Alliance News) - Gooch & Housego PLC on Friday said it had completed its acquisition of Artemis Optical Holdings Ltd, in a deal worth up to GBP8.9 million.
On Wednesday, the Somerset, England-based photonics components and systems manufacturer agreed to buy Artemis Optical Holdings Ltd for up to GBP8.9 million. Artemis is a Plymouth, Devon-based producer of thin-film coatings for aerospace and defence, industrial and life sciences customers.
In line with the acquisition, G&H on Friday said it has made an application to the London Stock Exchange for 412,088 new shares to be admitted to trading on AIM. It is expected that admission will become effective on Thursday next week.
On Wednesday, G&H Chief Executive Officer Charlie Peppiatt said: "The addition of Artemis' coatings expertise to G&H's capabilities was identified in our new strategy as one of the opportunities to deliver sustainable margin growth for the company. Artemis' renowned excellence in thin-film coatings complements our existing capabilities to enable us to deliver advanced photonics technology and unparalleled value for our customers."
Shares in G&H were up 2.1% to 592.00 pence each in London on Friday afternoon.
By Sophie Rose, Alliance News reporter
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