US gun sight maker EOTech has agreed to pay up to USD100 million to acquire Intevac's Photonics night-vision technology business, Intevac announced on 3 January.
Based in Santa Clara, California, Intevac said the divestiture will allow it to focus on its Thin-Film Equipment business, which serves several commercial markets and is “substantially different” from Photonics.
Photonics provides cameras for US military night-vision programmes, including the US Army's new soldier-worn Integrated Visual Augmentation System and the army's Apache helicopter Modernized Pilot Night Vision Sensor.
“Over the past 30 years, Intevac Photonics has built an impressive portfolio of digital night-vision technologies that set the standard for advanced military avionics platforms,” EOTech CEO Matt Van Haaren said. “We are excited to continue to build this business as it develops the next generation of digital night vision for the dismounted soldier.”
Under the transaction, which closed on 30 December 2021, Intevac will receive USD70 million in cash upfront. It will earn up to an additional USD30 million if Photonics achieves certain financial goals.
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