Spectris buys Sixnet for $72million - Embedded.com

Spectris buys Sixnet for $72million

Spectris plc, the UK headquartered instrumentation and controls company, has acquired Sixnet LLC, a privately-held business based near Albany, NY, and which employs around 110 people.

Sixnet, which was established 35 years ago, designs, builds and markets rugged remote terminal units, I/O modules, Ethernet network switches and wireless products for the industrial and process market.

The net purchase consideration of $72 million on a debt and cash-free basis, is being met from existing cash and bank facilities and is subject to routine balance sheet adjustments.

Sixnet will become part of Red Lion Controls in Spectris' industrial controls segment. Its hardened Ethernet networking switches complement those of Red Lion’s N-Tron subsidiary which was acquired in October 2010 and the remote automation solutions complement Red Lion’s product range.

Spectris has also completed the acquisition of the Omega Engineering business which it said it was buying for $475million in August.

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