Acquisition of ReliaSoft Corporation

RNS Number : 9336C

Spectris PLC

23 January 2015

 

SPECTRIS PLC

Acquisition of RELIASOFT CORPORATION

23 January 2015 - Spectris plc ("Spectris") (LSE: SXS), the productivity-enhancing instrumentation and controls company, today announces that it has completed the acquisition of the privately-held ReliaSoft Corporation ("ReliaSoft"), based in Arizona, USA. The purchase consideration of $42 million (approximately £28 million), on a debt and cash-free basis, will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments.

ReliaSoft is a leading provider of reliability engineering software, education, consulting and related services to product manufacturers and maintenance organisations around the world. It provides innovative, high quality and technologically advanced solutions to its clients, enabling them to improve product reliability, enhance productivity and improve their return on investment. ReliaSoft will be integrated with HBM nCode within Spectris' Test and Measurement segment. HBM nCode is an engineering software business which is a global leader in providing technology and software solutions for durability and performance analyses, and the combination of ReliaSoft and HBM nCode will enable the business to strengthen and extend its offer across the large Quality, Reliability and Durability (QRD) software market. For more information on ReliaSoft visit www.reliasoft.com.

Eoghan O'Lionaird, Business Group Director, said: "ReliaSoft is an important and strategic addition to HBM nCode which extends our presence in engineering application software. It is a leader in a niche high-growth, productivity-enhancing market, and we will support ReliaSoft to strengthen its market position, expand internationally and accelerate its growth. We believe there is a strong cultural fit with HBM nCode, and that the combined capabilities will create additional value for our customers as well as increasing HBM's resilient revenue stream. The acquisition is also in line with our strategy to grow existing businesses through acquisition, and fits the Spectris financial profile of attractive margins and strong cash generation."

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Contacts:
Spectris plc
Matt Jones, Head of Corporate Affairs	[phone]
FTI Consulting
Richard Mountain / Susanne Yule	[phone]

ABOUT SPECTRIS 

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The Company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets. Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, United Kingdom, the Company employs over 8,000 people with offices in more than 30 countries. For more information, visit www.spectris.com. 

 

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