A stock market-listed electronics firm has bought a rival business in Kent in a deal worth more than £2.1 million.

Solid State, which supplies components and equipment to companies, snapped up specialist distributor Ginsbury Electronics on Wednesday, April 1.

Its 12 staff will remain at the firm’s base in Medway City Estate, Strood. The business turned over £3.9 million in the year to the end of March.

The takeover gives Ginsbury’s new parent company access to its clients in the military and aerospace industries.

The Medway firm, founded in 1979, supplies display units, monitors, panels, digital signage and power components.

It will now operate alongside Solid State Supplies and Steatite, the two main trading companies of the AIM-listed Solid State, based in Worcestershire.

Solid State Supplies managing director John Macmichael said: “There are many parallels between our companies in terms of the products we offer and our focus on supporting customers through technical know-how and design consultancy.

“We are particularly pleased to add Ginsbury’s expertise in displays to our business. It’s an area where we see much potential for growth.”