AltX-listed engineering and technology firm Ansys is continuing down the acquisition trail, this time absorbing electro-optical systems company Optocon for some R14,5-million.
The Pretoria-based target is a contract manufacturer to the defence, transport and diamond industries of precision electro-optical systems ranging from infrared and ultraviolet optical components to high performance TV and night vision sensors and diamond sorting units.
This was the second buyout effected by Ansys since November, and the company said in an email that it was still finalising further acquisitions.
Ansys supplies electronic systems to State-owned Transnet Freight Rail, as well as the local defense industry.
“There is a promising opportunity locally for Optocon as a supplier to Denel of infrared optical systems for the Badger armoured land assault vehicle and the Rooivalk helicopter,” Ansys CEO Alan Holloway stated. “In addition, China represents a potentially huge market for Optocon products.”
PUBLICATION: Engineering News
AUTHOR: Matthew Hill
DATED: 9th January 2008