7th Oct 2026 09:34
(Alliance News) - IMI PLC on Wednesday said it has agreed the acquisition of Italian building automation systems firm iSMA Controlli Spa.
The Birmingham-based engineering firm said it will buy iSMA for EUR63 million enterprise value.
IMI said iSMA Controlli will sit in its Climate Control sector and said its "differentiated, open and scalable building automation platform significantly expands IMI’s smart‑connected product range."
The acquisition will enable more advanced monitoring, optimisation and control in commercial buildings, IMI said.
"The acquisition aligns IMI even more closely with the long-term megatrends of energy and automation, and strengthens our ability to deliver smart‑connected solutions that help customers optimise building performance, improve energy efficiency and lower operating costs.
iSMA Controlli is particularly well positioned to address the needs of underserved small and medium-sized commercial buildings, and we are excited by what we can achieve together," IMI Chief Executive Officer Roy Twite said.
IMI said iSMA is expected to generate operating profit of EUR4.5 million on revenue of EUR40 million in 2026.
Completion of the deal is expected in the fourth quarter, subject to customary regulatory approvals.
Shares in IMI were down 0.1% to 3,146.00 per share on Wednesday morning in London.
By Niall Holden, Alliance News reporter
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