E2V buys ADC specialist

January 28, 2016 // By Peter Clarke
E2V Technologies Ltd. (Chelmsford) has agreed to pay $18 million to acquire Signal Processing (SP) Devices Sweden AB (Linkoping, Sweden), a specialist in the design of analog-to-digital processing circuits and technology.

SP Devices' analog-to-digital conversion subsystems that are used by equipment makers in industrial test & measurement, healthcare, communications and science. It also provides software and board-level subsystems and services.

SP Devices was founded in 2004 by a team from Linkoping University. That team will continue to drive the business under e2v's ownership.  In 2015 SP Devices had sales of approximately $4.0 million and these are expected to grow in 2016.  

The initial cash purchase price is $14 million with an earn-out of up to a further $4 million in cash, dependent on revenue growth targets.   The SP Devices' management team will remain with the business.  The acquisition is being funded from e2v's existing resources.  

Related links and articles:

www.e2v.com

www.spdevices.com

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