Avantes Holding has sold 51 per cent of its shares to the Germany-based publicly traded company m-u-t.
m-u-t was founded in 1995 and went public in 2007. The company presently develops and produces high-tech solutions for laboratory automation, spectroscopy, aviation, and fire detection. Profit from operations during the first half of 2008 was €857,000 on a turnover of almost €11m. Approximately 170 people are employed. M-u-t has its own distribution offices in the main markets of China, Europe and North America.
The acquisition of Avantes Holding by m-u-t is seen as a strategic alliance between both companies. Distribution of Avantes spectrometers will continue through the existing channels and under the Avantes trade name as before.