30th Sep 2013 06:19
LONDON (Alliance News) - Spectris Plc (SXS.L, SEPJF.PK), a productivity-enhancing instrumentation and controls company, Monday announced that it has signed an agreement to buy NanoSight Limited, a developer of particle size measurement instrumentation, for a debt and cash-free net consideration of 15 million pounds.
NanoSight is a UK-based private company that serves a wide network of customers within the pharmaceutical, chemical and academic sectors.
Spectris said the acquisition is in line with its established strategy of growing and strengthening its businesses through acquisition of complementary businesses.
Following the purchase, NanoSight will become part of the Materials Analysis segment and will be integrated into Malvern Instruments.
Jim Webster, Spectris' Business Group Director, said, "NanoSight's novel Nanoparticle Tracking Analysis technology provides high resolution quantitative analysis of nano-particulate materials which is highly complementary to Malvern's existing measurement capabilities."
The company said it will meet the consideration from existing cash and bank facilities and is subject to routine balance sheet adjustments.
Copyright RTT News/dpa-AFX
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