Spectris completes Concurrent Real-Time purchase for USD166.7 million

(Alliance News) - Spectris PLC has completed the acquisition of computer systems and software ...

Alliance News 12 July, 2021 | 7:41AM
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(Alliance News) - Spectris PLC has completed the acquisition of computer systems and software provider Concurrent Real-Time for USD166.7 million in cash, it said on Monday.

The Egham, England-based precision instrumentation and controls supplier said the purchase was made from Battery Ventures, a Boston-based private equity firm.

The transaction is in line with Spectris' strategy to make synergistic acquisitions to enhance and grow its platform and potential platform businesses, it said. Concurrent-RT will now be integrated into the company's HBK subsidiary.

Concurrent Real-Time, based in Pompano Beach, Florida, describes itself as a developer of real-time operating systems for hardware-in-the-loop simulation applications, specialising in the aerospace, defence and automotive sectors.

Shares in Spectris were down 0.4% to 3,323.00 pence in London on Monday morning.

By Will Paige; willpaige@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Spectris PLC 3,148.00 GBX -4.66 -

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