LONDON (dpa-AFX) - Spectris Plc (SXS), a British supplier of precision instrumentation and controls, said on Monday that it agreed to buy inertial and wireless sensing systems developer, MicroStrain Sensing Systems Business, for $37.6 million or 29. million pounds. The acquisition is scheduled to be closed in the third-quarter.
Andrew Heath, CEO of Spectris, said: 'MicroStrain is an excellent addition to Spectris Dynamics, bringing complementary technology and strengthening our sensor offering, particularly in the fast-growing industrial and robotics markets. The acquisition will strengthen Spectris' position in the US aerospace, space and defence industries, and accelerate MicroStrain's revenue by leveraging Dynamics' global sales channels.'
For the year ended June 2022, MicroStrain had posted revenue of $15.4 million.
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