27 Nov 2012 Location: Almelo, The Netherlands
Acquisition of Analytical Spectral Devices Inc.
Spectris plc (“Spectris” or the “Company”) (LSE: SXS), the productivity-enhancing instrumentation and controls company, today announced that it has signed an agreement to acquire ANALYTICAL SPECTRAL DEVICES Inc. (“ASD”), a leading manufacturer of Near-Infrared (NIR) instrumentation solutions and applications expertise for materials measurement and research, for a debt and cash-free net consideration of $14 million (approximately £8.8 million). The consideration will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments. Spectris expects the acquisition to complete before the end of the year upon ASD shareholders’ approval.