Jenoptik completes acquisition of TRIOPTICS
With the closing on September 24, 2020 Jenoptik has successfully completed the acquisition of the first tranche of 75% of the Hamburg-based optics specialist TRIOPTICS, which had been anticipated for the third quarter.
All conditions relating to the transaction have been fulfilled and all necessary official approvals for the takeover have been obtained. Jenoptik will take over the remaining 25% of shares from the owners after fulfilling defined success criteria on December 31, 2021. TRIOPTICS' will be an additional key pillar of the Light & Optics Division. “Due to its high profitability and strong free cash flow generation, TRIOPTICS will contribute significantly to Jenoptik’s earnings already in the current fiscal year with the initial consolidation starting on the day of closing. Substantial synergies are expected not only from the expanded technological know-how, but also from the expansion of leading market positions and the intensified cooperation with important global Tier 1 companies. The complementary portfolios will allow to offer a broader range of measuring systems, as well as production facilities for sensor solutions and optical microcomponents, which over the long term might be reflected in economies of scale and thus revenue synergies worth more than 50 million euros,” says Stefan Traeger, Jenoptik President & CEO in a press release Both parties to the contract have agreed not to disclose details of the purchase price.