1st Aug 2008 10:52
Date: Friday 1 August 2008
SPECTRIS PLC ACQUIRES LEADING SUPPLIER OF DURABILITY, TEST & ANALYSIS SOFTWARE & MOBILE DATA ACQUISITION INSTRUMENTS
Spectris plc, the productivity-enhancing instrumentation and controls company, announces that, through its subsidiary company HBM, it has completed the acquisition of nCode International from CIP Industries, a fund advised by Nova Capital Management. nCode is headquartered in Detroit, MI, USA, with nine international offices in Europe and Asia, and employs 116 people. The initial purchase consideration of £17.5 million will be financed from the group's existing cash resources and is subject to routine balance sheet adjustments. Additional consideration of up to £4 million may be payable dependent upon nCode's performance.
nCode is a leading supplier of durability, test and analysis software and mobile data acquisition instruments. Its products complement those from HBM, a global market leader in test and measurement and sensor technology, providing the full measurement chain comprising sensors, data acquisition instruments and software and related services across a broad range of industries.
Commenting on the acquisition, John O'Higgins, Chief Executive of Spectris, said: "nCode has a long-established reputation as the leader in durability and fatigue analysis. There is a complementary fit between the products of nCode and HBM, enabling us to provide customers with the full testing cycle from virtual through to physical test. This acquisition will not only increase HBM's range of available solutions but will also strengthen its presence in North America and Asia."
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Enquiries: |
John O'Higgins, Chief Executive, Spectris plc |
Tel: 01784 470470 |
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Richard Mountain, Financial Dynamics |
Tel: 020 7269 7186 |
Copies of this announcement are available from the company's registered office at Station Road, Egham, Surrey TW20 9NP, and on the company's website at www.spectris.com.
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