Spectris plc completes acquisition of LDS Test & Measurement for $86 million
Spectris plc, the productivity-enhancing instrumentation and controls company, announces that it has completed the acquisition of the LDS Test & Measurement business from SPX Corporation for $86 million on a debt and cash-free basis. The acquisition will be consolidated from 1 December 2008.
Spectris originally announced on 1 October 2008 that it had agreed to acquire the LDS Test & Measurement business for $102 million. The sales, operating profit and gross assets previously disclosed remain unchanged. The transaction was subject to a number of conditions and under the revised terms of the contract, Spectris will not acquire the Nicolet brand name. The LDS data acquisition and instrumentation products will be rebranded under the HBM name.
In addition to data acquisition and instrumentation products, the LDS Test & Measurement business is also a leading provider of electro-dynamic vibration test systems for the aerospace, defence, automotive and electronic markets. These products complement those from Brüel & Kjær Sound and Vibration, enabling Spectris to provide customers with a complete test system for both structural analysis and vibration testing.
John O’Higgins, Chief Executive of Spectris, commented: “LDS is an excellent fit with the existing businesses in the Test and Measurement segment and enables us to provide a greatly enhanced range of products and software to help our automotive and aerospace customers improve productivity in their research and development cycles.”