SPX Expands Its Communication Technologies Platform With Acquisition Of Enterprise Control Systems For Undisclosed Sum - SPX Techs (NYSE:SPXC)

SPX Corp SPXC acquired Enterprise Control Systems Ltd, a U.K.-based company that designs and manufactures highly-engineered tactical datalinks and radio frequency (RF) countermeasures, including counter-drone and counter-IED RF jammers. The financial terms of the deal were not disclosed.
ECS's results will be reported as part of SPX's Communications Technology platform within its Detection & Measurement segment.
ECS will contribute annualized revenue of approximately $14 million and is expected to be accretive to Detection & Measurement segment margin once fully integrated.
"As our first acquisition in our CommTech platform, ECS expands and strengthens SPX's position in COMINT by adding highly complementary, world-class products and technology. We see significant opportunities to grow our presence in COMINT and complementary technologies and solutions worldwide," commented Gene Lowe, President and CEO of SPX.
Price action: SPXC shares closed higher by 0.29% at $65.50 on Tuesday.