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Electronics Production | May 15, 2007

e2v acquires MiCS MicroChemica Systems

UK based e2v technologies plc have announced that it has agreed to acquire MiCS MicroChemical Systems SA from Renaissence PME, Saia Burgess Electronics Holding AG, for a total cash consideration of CHF 12m (£5.0m), drawing from existing bank facilities.
Based in Corcelles, a suburb of Neuchatel in Switzerland, MiCS MicroChemical Systems SA designs and manufactures specialist semiconductors primarily focused on air quality sensors, currently used mainly in automotive applications.

MiCS MicroChemical Systems SA currently employs 24 people, all of whom are based in Switzerland. As at 31 December 2006 MiCS MicroChemical Systems SA had gross assets of CHF
3.2m (£1.3m), and generated a loss before taxation of CHF 2.3m (£1.0m) for the year ended 31 December 2006.

The Company expects the acquisition to remain loss making post acquisition but be earnings enhancing for the year ending 31 March 2009.

For the year ended 31 March 2006, e2v achieved sales of £112m and is listed on the London Stock Exchange (e2v.l). In July 2006 e2v technologies plc acquired a leading designer, manufacturer and distributor of specialised electronic components and sub-systems, based in Grenoble, France. The acquisition represents an opportunity to strengthen the Group's position as a major global
provider of specialised electronic components and subsystems.

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