With nearly two decades under its belt as a private company, Willett has been sold to US-based Videojet holding company, the Danaher Corporation.

The final purchase price is £50M in cash, less than last month’s anticipated sum of £68M, and includes the assumption of £16.7M [$27M] of debt.

Willett believes that the product identification industry is undergoing substantial change and consolidation. It has sought to ally itself with the best partner for future success.

Danaher is a major US company with over $5bn annual sales. Last December Danaher entred the product identification market with its acquisition of Videojet Technologies.