Agreement to Sell Qioptiq to Excelitas Technologies

Qioptiq and Excelitas Technologies announce that they have entered into an agreement for Excelitas Technologies to acquire one hundred percent of the shares of Qioptiq.

Qioptiq was formed in 2005 when it was acquired from Thales by Candover Partners It has been managed by Arle Capital Partners since 2010. During the period from 2005 Qioptiq has developed into a strong global specialist in the photonics industry serving the commercial, defence and aerospace markets. Qioptiq operates from ten different locations in Germany, UK, Singapore, US and Hungary and employs over 1,900 people.

Excelitas Technologies provides innovative, customized optoelectronics and advanced electronic systems to a global customer base of leading OEMs seeking high-performance, market-driven technology solutions.

Commenting on the sale, David Marks, CEO of Qioptiq said: "Since the formation of Qioptiq in 2005, the company has developed into a strong player in the photonics industry, through organic growth and strategic acquisitions. The strength of the new combined entity will benefit our customers and create opportunities for our employees."

Terms of the deal are not being disclosed. The transaction is subject to customary closing conditions and is expected to be completed in the next sixty days.