Measurement Specialties (MEAS) closed a transaction to acquire the assets of Cosense, which specializes in engineered ultrasonic sensors and switches used in semiconductor, medical, aerospace and industrial applications.
"Cosense's ultrasonic sensors are an excellent addition to our current product portfolio, and fit nicely within our Piezo product line," commented Frank Guidone, CEO of MEAS, which manufactures sensors and sensor-based systems. "Cosense products are used for single-point, multi-point and continuous liquid level measurement, along with entrained bubble detection. Their innovative solutions are very complementary to our existing product offering, particularly within the high-purity semiconductor, medical infusion pump and commercial aerospace markets."
MEAS paid $11.5 million for Cosense's assets, including $10 million in cash paid at closing and an additional $1.5 million a year from closing that's subject to offset for certain indemnification rights. MEAS expects the transaction to add about $7.5 million in annual net sales.
"We are excited to be part of the MEAS family," said Naim Dam, Cosense CEO. "Their technical experience in ultrasonics, global sales force and worldwide manufacturing footprint make them an excellent partner for Cosense. We look forward to leveraging their broad application knowledge to expand our reach and accelerate growth."
