Olympus announced the sale of its subsidiary Evident to Bain Capital for 21.38 billion yuan

CTOnews.com, August 29 (Xinhua)-- Japanese giant Olympus said on Monday that it has agreed to sell its optical science business unit to private equity firm Bain Capital for 427.6 billion yen (21.38 billion yuan) as it prepares to focus resources on medical technology.

Nikkei has previously reported that Olympus has negotiated with Bain Capital to sell its optical science business, including biomicroscopes, at an estimated price of about 400 billion yen.

Olympus reached a final agreement with Bain Capital Private Equity and LP on the sale. Under the agreement, all shares in its subsidiary Evident will be fully transferred to Bain Capital on January 4, 2023, but are still subject to regulatory approval and delivery conditions.

According to public information, Olympus Co., Ltd. is a Japanese company specializing in optics and imaging, and the once-established consumer electronics division has been sold.

CTOnews.com learned that Olympus was founded in 1919 and is headquartered in Tokyo, Japan, the United States is based in Allen Town, Pennsylvania, and the European headquarters is in Hamburg, Germany. The company was renamed in 1921, named after Mount Olympus, where the gods lived in Greek mythology.