4th Jun 2014 07:34
LONDON (Alliance News) - Spectris PLC said Wednesday that it had agreed to acquire GE Healthcare Life Sciences' MicroCal business for an undisclosed amount.
GE Healthcare is a subsidiary of the US's General Electric Co.
The acquisition is subject to regulatory approval, Spectris said. The MircoCal business generates around USD30 million in sales per year. No other financial details were disclosed.
The MicroCal business is focused in mircrocalorimetry instruments, used to measure very small heat changes in samples.
Spectris, which provides instrumentation and controls, said that the business will be brought into its expanding portfolio of life science analytical services, leading on from its acquisition of NanoSight Ltd for GBP15 million in September 2013.
Jefferies analyst Andy Douglas said that the acquisition is "another solid, and fascinating, bolt-on" which will allow Spectris to "improve/increase its position in niche and growing markets."
"We expect that EBIT margins for this business will be healthy (possibly above the average for the group) and that management will have maintained its pricing discipline in relation to this deal," Douglas said.
Shares in Spectris were trading up 0.2% at 2,299.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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