Jenoptik completes acquisition of Prodomax Automation Ltd.
With the closing on July 23, 2018 Jenoptik has completed the acquisition of 100 percent of the Canadian company Prodomax Automation Ltd. All conditions precedent for the transaction are fulfilled. As already announced Jenoptik pays a consideration of slightly below 2x expected sales, or around 7x expected 2018 EBITDA.
Further details regarding the financial impact of the acquisition will be discussed with the reporting of the first half-year results on August 9, 2018.
As globally operating technology group, Jenoptik is active in the three segments Optics & Life Science, Mobility and Defense & Civil Systems. Optical technologies are the very basis of our business with the majority of our products and services being provided to the photonics market. Our key target markets primarily include the semiconductor equipment industry, the medical technology, automotive and mechanical engineering, traffic, aviation as well as the security and defense technology industries. Jenoptik has about 3,700 employees and generated revenue of approx. 748 million euros in 2017.