Gooch & Housego PLC (AIM : GHH) agreed to acquire Artemis Optical Limited for £8.9 million on July 19, 2023. The total consideration payable for Artemis by G&H is up to £8.9 million. This comprises an initial cash consideration of £4.5 million, funded from existing resources, together with £2.4 million of new G&H ordinary shares to be satisfied by the issue of 412,088 new G&H ordinary shares.

There is a deferred contingent cash consideration of up to £2.0 million, payable based upon Artemis' performance in the two years ending July 31, 2025. The acquisition is expected to complete on July 21, 2023. As at the end of June 2023 Artemis had gross assets of £3 million.