LONDON, UK: Spectris plc (SXS: LSE), the expert in providing insight through precision measurement, has signed a purchase agreement to acquire MicroStrain Sensing Systems Business for $37.6 million (£29.4 million).

Based in Vermont, MicroStrain is a leading developer of inertial and wireless sensing systems, serving the industrial and aerospace sensing systems market.  The business has seen strong growth driven by increased demand from industrial automation and the development and adoption of new robotics, logistics, unmanned vehicles and mobility applications.  MicroStrain has developed a network of blue-chip customers, including internationally regarded robotic and autonomous equipment innovators.  The Company’s unaudited revenue for the year ended June 2022 was $15.4 million.

MicroStrain will be integrated into Spectris Dynamics, which has a long-established presence in high precision sensing solutions and where it will benefit from leveraging Spectris Dynamics’ global sales and service network.  The acquisition strengthens our overall sensor offering and helps further penetration into the rapidly growing automation and smart manufacturing markets, while also increasing our North American presence.

The acquisition, which is in line with the Strategy for Sustainable Growth presented at the capital markets day in October 2022, allows both companies to leverage complementary capabilities and provide enhanced customer offerings and solutions accelerating their product development.

The transaction is subject to regulatory approval and is anticipated to close in the third quarter.

Andrew Heath, Chief Executive, said: “Value enhancing M&A remains an important part of our compounding growth strategy.  MicroStrain is an excellent addition to Spectris Dynamics, bringing complementary technology and strengthening our sensor offering, particularly in the fast-growing industrial and robotics markets.  The acquisition will strengthen Spectris’ position in the US aerospace, space and defence industries, and accelerate MicroStrain’s revenue by leveraging Dynamics’ global sales channels.  We look forward to welcoming the MicroStrain team and providing our customers with a wider portfolio of inertial sensing solutions, helping to enhance their products and development programmes.”

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Spectris plc