Sandvik Acquires DWFritz Automation For Undisclosed Sum - Sandvik (OTC:SDVKF)

Sandvik AB SDVKF has agreed to acquire U.S.-based DWFritz Automation Inc., a provider of precision metrology, inspection- and assembly solutions for advanced manufacturing.
The financial terms of the deal were not disclosed.
DWFritz Automation will be reported in the Metrology division, within the business area Sandvik Manufacturing and Machining Solutions.
This acquisition expands Sandvik’s current metrology offering. It takes a leading position in in-line metrology, enabling them to offer full metrology solutions to customers and will reduce cost and improve quality significantly.
For 2020, DWFritz Automation had revenues of approximately SEK 720 million ($78 million) and an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions.
The transaction will initially have a neutral impact on Sandvik’s EPS and is expected to close during the second half of 2021.
Sandvik had cash and equivalents of SEK 23.14 billion at the quarter ended March 31, 2021.
Price Action: SDVKF shares closed at $26.21 on Monday.