Latest: Acal to buy BFi Optilas

Acal has announced this morning it is to buy BFi Optilas. It will pay 10 million Euro in cash and two million Acal shares to be issued on completion of the deal.

Acal says the deal represents a key step in establishing the company as the leading specialist distributor in Europe with a clearly differentiated market position.

Privately-owned BFi, which is headquartered in France specialises in electronic and photonic components, modules and systems across Europe as well as supplying value-added maintenance and calibration systems.

Nick Jefferies, chief executive of Acal said, "I am delighted to announce the acquisition of BFi Optilas which is a key step in our stated strategy of specialisation. By bringing the two businesses together, we are creating a clearly differentiated specialist, providing electronic and photonic products and services to over 14,000 customers across Europe. This transaction creates the scale needed to succeed in the key European markets and enables substantial operating synergies."