Thursday , May 26 2022

Optical Technologies is allowed to acquire the remaining shares in Altechna



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Photo by Vladimir Ivanovo (V)

The Competition Council allowed Optical Technologies, part of the KB Litcapital I development capital fund, to implement the concentration by acquiring the remaining 50.1% of the shares in Altechna optical technology and acquiring complete control of the latter.

The notice of intention to operate the concentration was received in 2020. October 26 After assessing the circumstances of the transaction, the Competition Council concluded that the proposed concentration would not create or strengthen a dominant position or restrict ‘ n significant competition in the relevant markets, the report states.

Optical Technologies currently owns 49.9% of UAB Altechna’s shares and together with Verts Technologies manages UAB Altechna.

Individual management will be acquired by Optical Technologies by acquiring a 50.1% stake in Altechna owned by Verts tehnologija, following a total concentration of 100%.

rush mons dr. Gintas will also visit other shareholders, as Rayta has already done, and will continue to invest in the management, development and development of other laser applications that are owned and not in competition with Altechna. The additional capital attracted will allow the company to execute highly ambitious development plans and will allow even faster growth.

Arnas iugda, LitCapital’s managing partner, emphasizes that UAB Altechna is an innovative optical technology company that has been demonstrating sustainable and sustained growth for a long time. Few companies on the market today have such technological competence, state-of-the-art technologies and automated production process management systems.

UAB Altechna is a group of optical technologies that have been operating successfully for more than 25 years. The group includes UAB Altechna, which supplies and manufactures optical components, and UAB Altechna Coatings, which develops optical coating technologies. The group manufactures optical components and optical coatings, uses optical and laser systems and supplies them to customers worldwide. Exports account for more than 80% of the company’s sales.

Last year, UAB Altechna’s combined revenue grew 8.7% to LTL 10.6 million. And the net profit is 1.7 times up to EUR 656,100.

The proposed concentration must be notified to the Competition Council and permission must be obtained if the total revenue of the merging entities in the final year of concentration exceeds 20 million. And if the total revenue of each of at least two of the parties to the concentration in the final year of the concentration exceeds EUR 2 million. Eur.

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