Acal to acquire BFi OPTiLAS

BFi OPTiLAS is a private distributor of electronic and photonic components, modules and systems across Europe, as well as supplying calibration and maintenance services. BFi OPTiLAS will be acquired for a consideration of €10 million payable in cash and 2 million Acal ordinary shares to be issued on completion (the “Consideration”). Commenting on today's announcement, Nick Jefferies, Chief Executive of Acal said: "I am delighted to announce the acquisition of BFi OPTiLAS, which is a key step in our stated strategy of specialisation. By bringing the two businesses together, we are creating a clearly differentiated specialist, providing electronic and photonic products and services to over 14,000 customers across Europe. This transaction creates the scale required to succeed in the key European markets, and enables substantial operational synergies.”