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(Alliance News) - Judges Scientific PLC on Thursday said its subsidiary PE Fiberoptics Ltd has acquired Luciol Instruments SA, which it expects to be "earnings enhancing."
The London-based acquirer of scientific-instrument companies said the initial consideration for Luciol is CHF2 million, or GBP1.8 million in cash plus an earn-out payment due in 2024.
The total payment will be capped at CHF2.5 million.
Judges Scientific notes that the acquisition and associated transaction costs have been funded from its existing cash balances.
Chair Alex Hambro said: "We are pleased to welcome Luciol, a solid and profitable company manufacturing quality products, to the Judges group. The board believes that its interaction with PFO will be fruitful."
Luciol is a Swiss company which manufactures and sells instruments to measure optic fibre properties.
Shares in Judges Scientific rose 3.5% to 9,520.00 pence each in London on Thursday morning.
By Sabrina Penty, Alliance News reporter
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