Detection Technology acquires business of a technology company, MultiX
Detection Technology Plc acquires the business of the French technology company, MultiX S.A.,which is undergoing reorganisation proceedings, based on a legal decision. The asset purchase deal includes MultiX’s licensing agreements and patents, and fixed and current assets. In addition, the company’s personnel will join Detection Technology. The transaction will take place at the beginning of January 2019.
The deal expands the technology base of Detection Technology, thereby strengthening its position in the security, industrial and medical X-ray imaging market. MultiX’s specialties are direct conversion technology and related algorithm development. The company’s direct conversion technology based on photon counting comes with a very precise material discrimination capability in security and industrial X-ray imaging applications.
”Detection Technology’s strong financial position and experience in the industrialisation and commercialisation of X-ray technology combined with MultiX’s unique technology will enable us to expand and further develop our business. The deal is a long-term strategic investment. We expect the MultiX business to generate a loss in 2019,” said Hannu Martola, President and CEO of Detection Technology.
MultiX designs, manufactures and sales X-ray detector solutions for high-end applications. The company’s net sales were EUR 0.8 million in 2017. It employs 17 people in Moirans, near Grenoble in France. MultiX was founded in 2010.
Source: Detection Technology
Hannu Martola, President and CEO
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