Nanofilm Technologies Europe B.V entered into a share sale and purchase agreement to acquire Axyntec Dünnschichttechnik Gmbh from Bernd Schey and Claus Hammerl for ?6.8 million on December 21, 2023. Upon completion, Axyntec Dünnschichttechnik will become an indirect wholly-owned subsidiary of Nanofilm Technologies International Limited. Out of the total purchase price, ?5.8 million will be payable in cash and rest ?1 million is subject to them meeting agreed retention conditions.

The Total Purchase Price will be funded from internal sources of funds. As of September 30, 2023, Axyntec Dünnschichttechnik reported a net assets of ?1.1 million. The transaction is subject to customary closing conditions.