According to reports, Canon announced on September 9 the acquisition of Canadian semiconductor manufacturer Redlen Technologies for C$341 million. The acquisition is expected to accelerate Canon's entry into the medical field.
The report pointed out that Canon has invested in Redlen as early as 2018 and holds 15% of the shares so far. The transaction will acquire the remaining 85% of Redlen's shares for C$341 million. After the transaction is completed, Redlen will become a wholly-owned subsidiary of Canon, and Redlen's leadership and the entire team will remain at Redlen.
Founded in 1999, Redlen is a leading provider of multi-energy, X-ray imaging modules based on proprietary Cadmium Zinc Telluride imaging sensors. Through this transaction, Canon will be able to expand its medical device business, including accelerating the development of photon counting computed tomography (PCCT).