SXI - Standex International acquires Sensor Solutions for $9.7M

Standex International (NYSE:SXI) acquired privately-held, Colorado-based Sensor Solutions for ~$9.7M in cash. The transaction is being financed from existing cash balance. SXI expects the acquisition to be slightly accretive to its earnings in its first year of ownership as well as additive to consolidated free cash flow. Sensor Solutions designs and manufactures customized as well as standard Hall effect and magnetic sensor products including Hall switch and latching sensors, linear and rotary sensors and specialty sensors. "With today's announcement, we continue to add to our Electronics segment's breadth of expertise and product portfolio, further strengthening our base of innovative solutions and strong customer value propositions," said SXI CEO David Dunbar.

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Standex International acquires Sensor Solutions for $9.7M