Andor Technologies acquires Spectral Applied Research Inc. for $11.3 million
A recent technology acquisition will likely have a major effect on certain digital technologies and how they relate to consumers and businesses alike.
Andor Technologies develops and manufactures high performance scientific digital cameras for academic, industrial and government applications. It took an important step forward in the industry earlier this week when it announced that it had acquired Spectral Applied Research Inc. for $11.3 million.
Spectral manufactures optical systems for the cell biology research community, and according to a company press release, it aligns with Andor in several areas, including integrated laser engines. Additionally, Spectral's patented Borealis illumination systems and its newly launched Diskovery platform will also be beneficial to Andor.
Spectral also explained in the release that its product portfolio improves Andor's systems offering by increasing differentiation against the competition and by providing access to key intellectual property.
Andor CEO Conor Walsh said in a statement that he was delighted over the technology acquisition of Spectral, as it further enhances Andor's position in the Systems business.
"We have already consolidated our research and development roadmaps and we see significant opportunities across both our Systems and OEM business," he said. "Spectral makes a fantastic addition to the wider Andor team and we are all excited about the new opportunities the combined business will bring."
Spectral CEO Richard Berman agreed, saying that "the synergies between Spectral and Andor make possible an unmatched product offering," which will greatly benefit both sets of customers.
M&A activity can help companies of all sizes find ideal "synergies" that will benefit each organization. Complementary ideals, goals and even a similar customer base will all ensure that any company acquisitions can find short- and long-term success.