Halma PLC Acquisition of FluxData (6008T)

TIDMHLMA

RNS Number : 6008T

Halma PLC

09 January 2017

Halma, the leading safety, health and environmental technology group, announces the acquisition of FluxData Incorporated ("FluxData") from private shareholders.

FluxData, based in New York State, USA, designs and manufactures advanced multispectral and digital imaging systems across multiple sectors including industrial and medical applications.

The cash consideration is $12.0 million (GBP9.8 million) and is adjustable, US$ for US$, if the net assets are more or less than a pre-determined amount (the adjustment is not expected to be material). Further contingent consideration of up to $15.5 million (GBP12.6 million) may be payable based on performance to 31 March 2019. The acquisition, which is expected to be immediately earnings enhancing, was funded from Halma's existing cash and debt facilities.

Unaudited accounts for the year ended 31 December 2016 reported revenue of $5.2 million (GBP4.2 million).

FluxData will become part of Halma's Environmental & Analysis sector. Existing management will remain in place.

Andrew Williams, Halma's Chief Executive, commented:

"FluxData's strength in developing complete multispectral imaging (MSI) systems, including software and data analysis, builds on the MSI capabilities that already exist within our Environmental & Analysis sector. The value of this acquisition will come not only from enhancing FluxData's ability to service existing customers but also from the opportunity to access new sectors and geographies through Halma's strengths in safety, medical and environmental markets globally."

For further information please contact:

Halma plc

Tel: [phone]

Andrew Williams, Chief Executive

Kevin Thompson, Finance Director

MHP Communications

Tel: [phone]

Rachel Hirst / Andrew Jaques

Notes

1. Halma buys successful businesses in safety, health and environmental markets and helps them grow further through investment targeted towards increasing innovation, management development and international expansion. In the past 10 years Halma has spent approximately GBP650 million acquiring more than 30 businesses with deal sizes ranging from GBP1 million up to GBP100 million. (www.halma.com)

   2.   Further information regarding FluxData can be found on its website (www.fluxdata.com) 

3. This statement is not intended to constitute a profit forecast for the current financial period or for any future period. In addition, this statement should not be taken to mean that the earnings per share of Halma will necessarily match or exceed the historic reported earnings per share of Halma.

4. Halma intends to issue a trading update on 23 March 2017 ahead of its year end of 1 April 2017.

   5.    Dollar values were translated at a rate of $1.23: GBP1. 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 09, 2017 04:00 ET (09:00 GMT)