LONDON (Alliance News) - Water management technology company Hydro International PLC on Monday said it has agreed a deal to acquire Hydro-Logic Ltd and Hydro-Logic Services LLP.
It will acquire Hydro-Logic Ltd for GBP429,000, including debt, along with an initial deferred consideration of up to GBP2.0 million. It will pay GBP916,000 for Hydro-Logic Services, plus a further deferred consideration, again capped at GBP2.0 million.
The additional consideration will be dependent on sales of the intellectual property Hydro International has acquired.
Hydro-Logic makes instruments and information systems for water environment monitoring applications, including data logging, telemetry and software.
"This acquisition is an important strategic step in extending our core capabilities. The new products and services that we can offer will give unprecedented insight into the design, installation and operation of water management products, saving money for customers, reducing risk and helping them to protect the environment," said Hydro International Chief Executive Michael Jennings.
Hydro shares were untraded on Monday morning, having last traded at 167.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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