24th Nov 2015 08:22
LONDON (Alliance News) - Technology company Laird PLC on Tuesday said it has struck a USD55.0 million cash deal to acquire wireless product design company LS Research, giving it a presence in the Enterprise Internet of Things space.
FTSE 250-listed Laird, which provides systems, components and services to protect electronics from electromagnetic interference and heat, said the acquisition will boost its presence in the light industrial and commercial sectors and will add upstream wireless connectivity design capabilities to its portfolio.
LSR, based in Cedarburg in Wisconsin, makes radio frequency products used to simplify wireless technology and has a presence in the Enterprise Internet of Things connectivity applications.
"This is an exciting development for Laird and provides fantastic opportunities for us and for our customers. The capabilities that LSR brings to Laird will enhance our ability to deliver on the clear potential that the EIoT has to offer," said Chief Executive David Lockwood.
Shares in Laird were up 2.2% to 351.2 pence early Tuesday, one of the best performers in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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