Measurement Specialties Acquires Assets Of Cosense For $11.5 Mln

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4/3/2012 5:08 PM ET

Measurement Specialties acquires assets of Cosense for $11.5 Mln

Sensor manufacturer Measurement Specialties, Inc. (MEAS: Quote) said Tuesday it has acquired the assets of Cosense, Inc. The purchase price for the assets was $11.5 million and the transaction closed on April 2.

Measurement Specialties paid $10.0 million in cash at closing and will pay an additional $1.5 million on April on April 2, 2013 subject to offset for certain indemnification rights.

The company said that it expects the acquisition to add about $7.5 million in annual net sales.

Cosense is engaged the design and manufacture engineered ultrasonic sensors and switches used in semiconductor, medical, aerospace and industrial application.

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