Nanogate - Acquisition of HTI’s plastics division

Nanogate has announced that it is to acquire the plastics division of Austrian company HTI High Tech industries (HTI) for 275,000 new shares, (c €13m at today’s price). The transaction broadens the portfolio of services offered to customers, expands the customer base, reduces exposure to the automotive sector, and extends the international footprint. Depending on the timing of completion (in Q118), management expects the acquisition to raise group FY18 revenues by around 16% to above €220m and to enhance EBITDA, though it will be earnings dilutive short term.