Dresser-Rand Signs Definitive Agreement to Acquire Synchrony for $50M

Dresser-Rand Group Inc. (NYSE: DRC) has signed a definitive agreement to acquire Synchrony, Inc. The transaction is expected to close in January 2012.

Under the agreement, Dresser-Rand will acquire Synchrony, Inc. for approximately $50 million net of cash acquired. The agreement includes the potential for additional consideration of up to a maximum of $10 million tied to technical milestones and to business performance. It should be noted that the operating costs for this acquisition are already included in the Company's guidance for 2012 previously provided.