A deferred consideration, to be calculated by reference to SDM’s levels of inventories, net assets and net debt, of up to a maximum of €5m (£3.4m) will be payable. The whole of the consideration is payable in cash using Raymarine’s existing facilities.

For the year ended December 31, 2006, SDM Electronique reported revenues of €19.4m (£13.2m), pre tax profits of €3.3m (£2.2m) and gross assets of €7.7m (£5.2m).

In January Raymarine signed an agreement with Oceantalk Australia Pty Ltd and Oceantalk Asia Pte Ltd that will see the transfer of all sales, marketing, distribution and customer support responsibilities for Raymarine product from Oceantalk to Raymarine.

‘I wouldn’t rule out similar acquisitions,’ said chief executive Malcolm Miller when quizzed by BB.