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Idex says to buy Nova Technologies for $158 mln

Wed Nov 14, 2007 9:07am EST

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Nov 14 (Reuters) - Idex Corp (IEX.N), which makes pumps and fire-suppression equipment, said it had agreed to buy Nova Technologies Corp for a cash consideration of about $158 million.

Stocks  |  Mergers & Acquisitions

Idex expects the deal to close in the fourth quarter and add to earnings in 2008.

Nova provides metering technology and flow monitoring services for the water and wastewater markets and has annual revenue of about $70 million, Idex said in a statement. (Reporting by Anirvan Ghosh in Bangalore; Editing by Himani Sarkar)

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