Electronics Production |
Measurement Specialties closes<br>acquisition of ATEX
Measurement Specialties, announced that the acquisition of ATEX, a sensor company based outside of Paris, France has closed under the terms announced December 5, 2005.
All outstanding shares of ATEX stock were acquired for 2.7 million euro. As part of the transaction, Measurement Specialties acquired approximately 0.5 million euro cash on the balance sheet. The owners also have potential for up to an additional 1.6 million euro in an earn-out tied to three-year growth objectives. Founded in 2000, ATEX specializes in providing vibration sensors to the Formula One racing market. For calendar 2005, ATEX had annual revenues of approximately 1.5 million euro, with customers predominantly in Europe.
