Andor Technology ‘in buy-out talks’

Scientific imaging and spectroscopy specialist Andor Technology is reported to be in the advanced stages of talks about a potential management buy-out.

According to the Belfast Telegraph, the firm has admitted the possibility of an offer for its entire issued share capital at a price of 73 pence per share in cash, although a formal offer has yet to be made.

The newspaper observes: "A price of 73 pence per share would value the one-time Queen’s University spin-out company at just over 20 million pounds.

"Andor, which is listed on the Alternative Investment Market, has its headquarters at Springvale Business Park in west Belfast and employs 190 staff, 120 of them in Belfast."

It goes on to note that Andor posted a 22 per cent increase in pre-tax profits for the six months to the end of March this year.

The speculation follows last week’s news that Andor Technology had launched its latest method to fight EMCCD gain ageing.

Its Emcal software method of EM gain self-recalibration, for its pioneering iXon+ range of cameras, is said by the firm to offer "great peace of mind" to multi-user imaging facilities and laboratories.