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Halma PLC Announces Acquisition OF ASL Holdings Limited

Friday, 15 Mar 2013 03:00am EDT 

Halma PLC announced the acquisition of ASL Holdings Limited (ASL) on March 14, 2013. ASL, based in Northampton, UK, designs and manufactures machine-to-machine (M2M) communication products which are incorporated into SMART meters for remote data monitoring and a range of other applications in the utility, transport and retail sectors. The cash consideration is GBP6.5 million with contingent consideration of up to GBP3.5 million payable if revenues for the two years to March 31, 2015 exceed a pre-determined target. The acquisition, which is expected to be earnings enhancing, was funded from Halma's existing cash and debt facilities. ASL will become part of UK-based HWM-Water Limited (HWM). Existing management will remain in place. 

Company Quote

4.0 +0.71%
7:34am EDT