Halma PLC Acquisition of FluxData (6008T)
09 January 2017 - 8:00PM
UK Regulatory
TIDMHLMA
RNS Number : 6008T
Halma PLC
09 January 2017
Halma, the leading safety, health and environmental technology
group, announces the acquisition of FluxData Incorporated
("FluxData") from private shareholders.
FluxData, based in New York State, USA, designs and manufactures
advanced multispectral and digital imaging systems across multiple
sectors including industrial and medical applications.
The cash consideration is $12.0 million (GBP9.8 million) and is
adjustable, US$ for US$, if the net assets are more or less than a
pre-determined amount (the adjustment is not expected to be
material). Further contingent consideration of up to $15.5 million
(GBP12.6 million) may be payable based on performance to 31 March
2019. The acquisition, which is expected to be immediately earnings
enhancing, was funded from Halma's existing cash and debt
facilities.
Unaudited accounts for the year ended 31 December 2016 reported
revenue of $5.2 million (GBP4.2 million).
FluxData will become part of Halma's Environmental &
Analysis sector. Existing management will remain in place.
Andrew Williams, Halma's Chief Executive, commented:
"FluxData's strength in developing complete multispectral
imaging (MSI) systems, including software and data analysis, builds
on the MSI capabilities that already exist within our Environmental
& Analysis sector. The value of this acquisition will come not
only from enhancing FluxData's ability to service existing
customers but also from the opportunity to access new sectors and
geographies through Halma's strengths in safety, medical and
environmental markets globally."
For further information please contact:
Halma plc
Tel: +44 (0) 1494 721111
Andrew Williams, Chief Executive
Kevin Thompson, Finance Director
MHP Communications
Tel: +44 (0) 20 3128 8100
Rachel Hirst / Andrew Jaques
Notes
1. Halma buys successful businesses in safety, health and
environmental markets and helps them grow further through
investment targeted towards increasing innovation, management
development and international expansion. In the past 10 years Halma
has spent approximately GBP650 million acquiring more than 30
businesses with deal sizes ranging from GBP1 million up to GBP100
million. (www.halma.com)
2. Further information regarding FluxData can be found on its website (www.fluxdata.com)
3. This statement is not intended to constitute a profit
forecast for the current financial period or for any future period.
In addition, this statement should not be taken to mean that the
earnings per share of Halma will necessarily match or exceed the
historic reported earnings per share of Halma.
4. Halma intends to issue a trading update on 23 March 2017
ahead of its year end of 1 April 2017.
5. Dollar values were translated at a rate of $1.23: GBP1.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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