Scientific instruments maker Spectris Plc said on Tuesday, that it has agreed to buy Georgia, U.S.-based Micromeritics Instrument Corp for $630 million, expanding the British company’s laboratory analytical instruments unit.
Acquisition of Micromeritics, which serves industries from oil processing to pharmaceuticals, also includes a deferred consideration of up to $53 million, the London-listed company said.
Terry Kelly, CEO and president of Micromeritics, will be appointed president of Spectris’ unit Malvern Panalytical.
Spectris expects the deal to be accretive to earnings per share in the first year after the completion of the deal.
Source: Reuters.com