Wellington, Oct 5 NZPA - Technology company Rakon has seen business boom in Europe after its purchase of a UK business more than three years ago.

Rakon, which supplies crystal oscillators to the GPS, telecommunications network and aerospace markets, said its September quarter shipments to the UK were 300 percent higher than when it bought the Frequency Control Products division of CMAC in March 2007 for $58 million.

The result was in line with the company's expectations and was a validation of Rakon's acquisitions and the technology it had focused on, Rakon chief executive Brent Robinson said.

Shares in Rakon closed flat at $1.25.