Acquisition puts pressure on sensor portfolio
A
Measurement Specialties product story
Edited by the Engineeringtalk editorial team
Jan 3, 2008
Measurement Specialties has acquired Swiss pressure sensor specialist Intersema Sensoric for an initial payment of around US $39.7 million.
Measurement Specialties has acquired Swiss pressure sensor specialist Intersema Sensoric for approximately US $39.7 million in cash and notes, plus an additional $17.3 million if certain performance thresholds are achieved.
According to Frank Guidone, Measurement Specialties CEO: "We are very excited about the addition of Intersema to our sensor portfolio".
"Intersema is a leader in the barometric and subsea depth measurement markets, and extends our pressure capabilities with the addition of low pressure, harsh media and ultrasmall packaged configurations".
"On an annualised basis, we expect the transaction will add approximately $17 million in sales, and will improve our blended gross and operating margins".
"We believe the additional infrastructure we gain in Switzerland will provide us a much needed base of engineering talent and infrastructure to address the European pressure market".
"We are equally enthusiastic about the transaction", adds Manfred Knutel, Intersema CEO.
"Our customers can rest assured that as a Measurement Specialties company we will continue to provide the products, service and engineering support they have come to rely on from Intersema, with the added benefit of access to the broader product portfolio and global sales and operations network of Measurement Specialties".
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