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Volex (VLX.L) completed the acquisition of a 64.3% stake in Kepler SignalTek that it did not already own for up to $89.4 million, taking its shareholding in the patient-connected medical products manufacturer to 100%. The British power and data transmission products manufacturer will pay an initial cash consideration of $74.7 million and up to $14.7 million in cash within two years, subject to revenue targets, according to a Tuesday filing. The acquisition, which strengthens Volex's medical business by adding a new product category, is expected to enhance its earnings immediately and improve its underlying operating margin.
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Volex (VLX.L) completed the acquisition of a 64.3% stake in Kepler SignalTek that it did not already own for up to $89.4 million, taking its shareholding in the patient-connected medical products manufacturer to 100%.
The British power and data transmission products manufacturer will pay an initial cash consideration of $74.7 million and up to $14.7 million in cash within two years, subject to revenue targets, according to a Tuesday filing.
The acquisition, which strengthens Volex's medical business by adding a new product category, is expected to enhance its earnings immediately and improve its underlying operating margin.