Evolutec Group To Acquire Nanoco Tech

Mar 2 2009 | 9:09am ET

The U.K. investment company Evolutec Group plans to acquire the Manchester-based Nanoco Tech plc, a nanotechnology company specializing in the development and manufacturing of fluorescent semi-conducting materials called quantum dots.

Quantum dots are a platform technology with a wide range of uses including solar energy, solid state lighting and next generation displays.

Once the acquisition (which constitutes a reverse takeover) is approved by shareholders, the enlarged group will be known as Nanoco Group plc and have a market capitalization of an estimated GBP 38.6 million ($54.8 million).

Manchester-based investment bank Zeus Capital acted as financial adviser to Evolutec and will continue to act as Nominated Adviser to the enlarged group. Nanoco chief executive Dr. Michael Edelman said in a statement, “This acquisition represents the next milestone in Nanoco's rapid development.”

Evolutec is listed on the Alternative Investment Market of the London Stock Exchange, admission to which will allow Nanoco to “further strengthen its shareholder base and balance sheet” and give it the resources to meet growing demand for its products, said Edelman.

Nanoco was founded in 2001 by two academics from Manchester University – Paul O'Brien and Nigel Pickett – to advance the development of quantum dots.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...