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Jenoptik Buys Trioptics; Terms Undisclosed

German optoelectronics company Jenoptik AG (JNPKF.PK) said that it agreed to buy 100 percent of the shares in Trioptics GmbH. The company did not disclose details of the purchase price.

First, Jenoptik will take over 75 percent of the shares, the remaining shares after fulfilling defined success criteria by the end of 2021.

Jenoptik's supervisory Board approved the acquisition and but the deal is still subject to approval by the German Bundeskartellamt.

Jenoptik expects that the transaction will have a positive impact on its business development in 2020. Closing is expected in the third-quarter quarter 2020.

TRIOPTICS is a supplier of test equipment and manufacturing systems for optical components and sensors in the digital world. The company, based in Wedel near Hamburg, has over 400 employees worldwide and in 2019 generated revenue of around 80 million euros.

Over the last four years, the company achieved on average annual growth (CAGR) of 17 percent. The company generates more than half of its revenue in Asia.

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