MTD - Mettler-Toledo acquires PendoTECH for an initial payment of $185M

Mettler-Toledo International (MTD) completes acquisition of PendoTECH, focuses on serving bio-pharmaceutical manufacturers and life science laboratories.The company is based in Princeton, New Jersey, with a majority of its sales in North America.  Consideration includes a $185M initial payment, contingent consideration of up to $20M and other post-closing amounts.CEO and President Olivier Filliol comments, "PendoTECH is an excellent strategic fit as it expands our offering to include various sensors, including pressure, which is an important and common control parameter in downstream and upstream bioprocess applications. The company is known for its leading-edge innovation in single-use sensors that are becoming increasingly important in bioproduction. The combination of our Process Analytics and PendoTECH products and technologies creates one of the most comprehensive sensor offerings in the bioprocess market today. The outlook for the bioprocessing market is excellent, and we see attractive opportunities to cross-sell and expand PendoTECH's global reach. Customers will also benefit from using various sensors with

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Mettler-Toledo acquires PendoTECH for an initial payment of $185M