SPX Technologies, Inc. (SPXC) announced Monday that it has entered into a definitive agreement to purchase Kranze Technology Solutions, Inc., a digital interoperability and tactical networking solutions provider, and certain significant tax attributes for approximately $350 million in cash.
Upon closing, Kranze will become a part of SPX Technologies' Communication Technologies platform, within its Detection & Measurement segment.
Kranze is anticipated to generate revenue of approximately $90 million for the full year 2025, with a segment income margin and revenue growth rate that are both modestly above the Detection & Measurement segment average.
The parties anticipate the closing of the transaction in the first quarter of 2025, subject to regulatory clearance under the Hart-Scott-Rodino Act.
SPX Technologies intends to finance the acquisition by drawing on its revolving credit facility. After the interest cost of financing, the acquisition is anticipated to be modestly accretive to SPX's adjusted earnings per share in 2025.
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