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January 23rd, 2008
Owlstone to be acquired from founders
Abstract:
The owner of ground-breaking nanotechnology company Owlstone has reported its intention to acquire the company from its founding shareholders and make the company's chemical detection business its main focus.
New York-based Advance Nanotech said that it has entered into subscription agreements totaling $6.7m (£3.4m), which it intends to used to complete a transition of the company's business focus.
It also intends to divest all of its non-core assets, which it began at the beginning of the year with the $1.19m sale of its stake in Singapore-based Singular ID.
Source:
businessweekly.co.uk
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