Image Analysis Software Firm Acquired
Bitplane’s Imaris software, which was launched in 1993, is designed for the visualization and analysis of confocal microscopy data. Bitplane has 30 employees and was majority owned by venture capital firm Endeavour Vision. The purchase price also includes an earn-out provision.
Belfast, Northern Ireland 12/23/09—Andor Technology, a developer of digital cameras, has acquired Bitplane AG for £7.46 million ($11.95 million) in cash and the issue of 285,851 shares at the price of 2 pence each ($0.03). Based in Zurich, Switzerland, Bitplane develops microscopy image analysis software for medical and life science applications. In 2008, Bitplane had revenues of CHF 4.5 million ($4.2 million = CHF 1.08 = $1) and EBITDA of CHF 1.0 million ($925,925). “Bitplane is a world leader in 3D and 4D image analysis software and complements Andor’s existing business, especially the rapidly growing systems division,” commented Conor Walsh, Andor Technology’s chief executive. Bitplane’s management and employees will remain with the business, which will continue to use the Bitplane name.
