Detection Technology Completes the Acquisition Haobo Imaging
Detection Technology has completed the acquisition of Haobo Imaging, a Shanghai-based supplier of flat panel X-ray detectors.
Detection Technology has acquired 90% of the shares in Haobo Imaging for €12 million, funded by cash on hand and a term loan.
The founders and management of Haobo Imaging will continue to hold 10% of the shares. Detection Technology intends to acquire the remaining shares in the future under agreed terms.
Apart from normal working capital items, no material liabilities were transferred as part of the acquisition. The acquired business is expected to be earnings positive in 2025.
Sales of the acquired business will be reported as part of Detection Technology’s business units, so the reporting structure of the company remains unchanged. The acquired business will be organized as part of the company’s Medical Business Unit (MBU).
Haobo Imaging has solid product platforms and strong know-how in static and dynamic TFT flat panel detectors based on a-Si (Amorphous Silicon) and IGZO (Indium Gallium Zinc Oxide) technologies. Its solutions include both hardware and software. The company has a well-established customer base and employs 40 professionals in Shanghai, China.
On 15th of March 2023, Detection Technology announced its plan to acquire Shanghai Haobo Imaging Technology Co., Ltd and to invest in the thin-film transistor (TFT) technology in order to double its total addressable market. With the acquisition, Detection Technology’s product range covers all digital X-ray imaging detector technologies.
“I am pleased to officially welcome Haobo Imaging as part of Detection Technology. This acquisition boosts the customer experience and our long-term growth,” says Hannu Martola, President and CEO at Detection Technology.
