Sutron Corp. (STRN) has agreed to acquire IPS Meteostar for $4.18 million in cash. Suttron will also assume $175 thousand in Meteostar liabilities.
Sutron said the acquisition will expand its existing product and service portfolio into new global markets and will also assume ongoing contracts with significant governmental and commercial customers.
On an annual rate basis, acceleration of Sutron's revenue growth is currently estimated to range between 25 percent and 30 percent.
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