Orbotech acquires 3D — Danish Diagnostic Development
13 August 2007
Yavne, Israel. Orbotech Ltd. (NASDAQ/NM SYMBOL: ORBK) is
taking over 3D — Danish Diagnostic Development A/S (DDD), a manufacturer of
gamma cameras for nuclear medicine
DDD is a privately-held Danish company
and markets primarily in the United States through major industry suppliers
that distribute them under their own brands.
Orbotech will pay about $39 million for the shares and a
performance-related amount capped at approximately $6.5 million. On
completion of the deal it will form part of Orbotech’s medical imaging
Commenting on the announcement, Mr. Rani Cohen, Chief
Executive Officer of Orbotech, said: “This acquisition is an important step
in our strategy for growth and diversification into medical imaging as an
original equipment manufacturer (OEM) of highly innovative technologies."
"DDD is an exceptional company with highly talented employees, world-class
know-how and products whose outstanding caliber is recognized by the largest
players in the industry. Moreover, the acquisition presents an opportunity
for Orbotech to leverage its strong operational capabilities and resources.
The medical imaging industry presents solid growth drivers that will
complement and balance Orbotech’s core electronics business.”
its headquarters and primary research, development and manufacturing
facilities in Israel, and more than 30 offices worldwide.
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