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Analogic Corp Acquires Ultrasound Technology Firm PocketSonics

Friday, 20 Sep 2013 06:18pm EDT 

Analogic Corp announced that announced that it has acquired the remaining ownership stake in PocketSonics, Inc., a privately held ultrasound technology firm based in Charlottesville, Virginia. Analogic has held a minority equity position in PocketSonics since 2010. Since that time, Analogic has been working closely with PocketSonics under an Analogic-funded development and technology license arrangement to advance the PocketSonics technology. The acquisition brings this advanced technology, associated intellectual property, and a small focused team of engineers to Analogic. Consideration for the transaction included an initial cash payment of approximately $11 million, with additional contingent payments of up to $3 million based upon the achievement of certain milestones relating to the technology. Other terms of the transaction were not disclosed. The transaction was completed on September 20, 2013. 

Company Quote

31 Jul 2015