ACQUISITION OF N-TRON INDUSTRIAL NETWORKING PRODUCTS BUSINESS FOR $51 MILLION
Spectris plc ("Spectris" or the "Company"), the productivity-enhancing instrumentation and controls company, today announces that it has completed the acquisition of N-TRON Corporation, a leading manufacturer of rugged industrial networking components. N-TRON is based in Mobile, Alabama, USA, and employs around 60 people. The purchase consideration of US$51 million (approximately £32 million), on a debt and cash-free basis, will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments.
The acquisition of N-TRON is in line with Spectris' strategy to grow its key strategic business segments. N-TRON is a leading manufacturer of Ethernet switches - the products used to connect multiple Ethernet devices to each other and to build network infrastructure - and associated components for the industrial, infrastructure and power generation markets.
N-TRON will become part of the Industrial Controls segment and will operate in close co-operation with Red Lion Controls, which provides operator interface products, whilst maintaining its own brand and sales structure.
John O'Higgins, Chief Executive of Spectris, commented: "The acceptance of Ethernet in the industrial market for integrating shop-floor information within the business IT infrastructure is rapidly increasing. N-TRON's hardware capabilities will enable us to leverage Red Lion's communications technologies to meet this demand and to build our position in the industrial controls market around the world."
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