Gooch & Housego PLC - Somerset, England-based photonics components and systems manufacturer - Aquires optical component manufacturer, Phoenix Optical, for a total consideration of up to £6.8 million, comprising of an initial cash consideration of up to £3.4 million plus additional considerations of up to £3.4 million dependent on Phoenix’s performance over the next three years. Gooch & Housego says the acquisition will accelerate its reach in the UK and European aerospace and defence markets.

‘I am delighted to welcome Phoenix to the G&H Group. Phoenix is a highly capable, well-regarded UK precision optics supplier with a strong portfolio of products and services. Together we will be able to better serve our customers’ most complex optical systems requirements,’ says Chief Executive Officer Charlie Peppiatt.

Current stock price: 425.00 pence, down 0.7% in London on Wednesday morning

12-month change: down 15%

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