MEAS Buys Sensor Maker
HAMPTON, Va., Jan. 2, 2008 -- Sensor and sensor-based systems manufacturer Measurement Specialties Inc. (MEAS) announced today it has expanded its sensor portfolio by acquiring Intersema Sensoric SA, a maker of pressure sensors and modules, for as much as $57 million.
Under terms of the deal, MEAS acquired Intersema, which is based in Bevaiz, Switzerland, for $39.7 in cash and will pay an additional $17.3 million if certain performance goals are met. MEAS, which has its headquarters in Hampton, said it acquired $9.6 million in cash as part of the transaction, which closed Dec. 28. Intersema makes high-precision MEMS (microelectromechanical systems) -based pressure sensors for consumer, automotive, aircraft, medical and industrial applications.
"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 annualized 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," said MEAS CEO Frank Guidone.
"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 MEAS," said Manfred Knutel, Intersema CEO.
For more information, visit: www.meas-spec.com
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