August 30, 2017 / 6:42 AM / a year ago

UK's Spectris divests U.S. barcoding business to Omron for $157 million

(Reuters) - Spectris Plc (SXS.L) sold its U.S.-based barcoding business to Omron Corp (6645.T) for $157 million in cash, the measuring instruments maker said on Wednesday.

FILE PHOTO: Japan's Omron Corp. demonstrates a table tennis playing robot at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2014 in Chiba, east of Tokyo, October 7, 2014. REUTERS/Issei Kato

The company said the sale of industrial code reader Microscan Systems is likely to close in early fourth-quarter and is expected to raise 2017 adjusted earnings per share by about 2 pence.

Omron, a Japan-based producer of factory automation equipment, said it planned to acquire the U.S. peer from Spectris as it seeks to use the Internet of Things (IoT)to connect virtually all components and machines.

Through the acquisition, Omron said it expects to acquire a diversity of code readers incorporating Microscan’s 2D code reading technology, and integrate them with Omron’s automation technology.

Reporting by Justin George Varghese in Bengaluru; Editing by Sunil Nair

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