Measurement Specialties (MEAS) Acquires Ultrasonic Sensor Maker Cosense in $11.5M Deal
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Measurement Specialties, Inc. (Nasdaq: MEAS) announced the acquisition of the assets of Cosense, Inc., a technological leader in the design and manufacture of engineered ultrasonic sensors and switches used in semiconductor, medical, aerospace and industrial applications. The transaction closed April 2, 2012.
The purchase price for the assets of Cosense was $11.5 million. The Company paid $10.0 million in cash at closing and will pay an additional $1.5 million on April 2, 2013 subject to offset for certain indemnification rights. The Company expects the transaction to add approximately $7.5 million in annual net sales, and ~$2.0 million in EBITDA.
The purchase price for the assets of Cosense was $11.5 million. The Company paid $10.0 million in cash at closing and will pay an additional $1.5 million on April 2, 2013 subject to offset for certain indemnification rights. The Company expects the transaction to add approximately $7.5 million in annual net sales, and ~$2.0 million in EBITDA.
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