Midlands-based blood processing software specialist the Sanguin group has been sold in a multi-million pound deal to German firm Stratec Biomedical Systems.
Sanguin, which operates from Barton-under-Needwood, Staffordshire, was founded in 1983 by current chairman and main shareholder David Vale, and its first product was a data management system for hospital blood banks.
Rick Whelan, shareholder and co-director, joined Sanguin in 1988 and has been key in developing the business to its current status, the company said.
The company, has been sold by its founder.
Mr Vale said: "Our previous business relations with Stratec have been excellent, it was therefore a comfortable choice for us to become part of the Stratec organisation."
In addition to its UK business it has a US operation, Sanguin International, which was formed in 1992.
New owner Stratec -founded in 1979 - is a manufacturing house providing instruments and services to the leading invitro diagnostic companies.
The deal was led by the Birmingham office of Kroll Corporate Finance.
Shah Zaki, director of the mergers and acquisition team in Birmingham, said: "Stratec is a developer and manufacturer of the equipment used in the field of diagnostics and life sciences, and Sanguin is a provider of software for the same sector, so together they are a good fit"
Under the terms of the deal, Sanguin's shareholders, Mr Vale and Mr Whelan, will remain in charge of the company for the foreseeable future, he said.