LONDON--Imperial Innovations Group PLC (IVO.LN) said Monday that it has sold portfolio company Permasense Ltd., a engineering technology company, for a total consideration of 40.6 million pounds ($51.84 million).

The investment company sold Permasense to Emerson Electric Co. (EMR). The deal consideration comprises of an initial consideration of GBP30.6 million and a further consideration of up to GBP10.0 million dependent upon Permasense achieving certain performance targets.

Shares of Imperial Innovations at 1118 GMT trading 2.8% lower at 425 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

October 03, 2016 07:35 ET (11:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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