Spectris plc (‘Spectris’) (LSE: SXS), the productivity-enhancing instrumentation and controls company, has sold its Microscan Systems, Inc. business (‘Microscan’) to Omron Corporation (‘Omron’) for a total cash consideration of $157 million (£123 million).
Microscan is a global provider of world-class machine vision technology and solutions for critical identification, inspection and verification applications.
As at 31 July 2017, the book value of Microscan’s gross assets amounted to approximately £22 million. The adjusted operating profit generated by Microscan for the year ended 31 December 2016 was approximately £7 million. The sale is expected to close in early fourth quarter, subject to customary closing conditions and regulatory approvals in the USA.
EC M&A acted as exclusive financial advisor to Spectris on this transaction.