Spectris completes acquisition of Omnicon

(ShareCast News) - Spectris has completed the acquisition of privately-held US company The Omnicon Group, for an initial consideration of $29m. Omnicon provides a range of services to help its customers analyse and improve product reliability and safety. Key industries served include aerospace, automotive, transportation and defence within the important US market.Spectris said the group "strongly complements" the existing capability of the reliability and durability software and services portfolio within its Test and Measurement segment. It added that the combination of the businesses provides "strong geographic growth opportunities" across the joint customer base, particularly in the US and in Europe.Business group director Eoghan O'Lionaird said: "Omnicon is an excellent addition to our Prenscia software business within the Test and Measurement segment. The combination of Omnicon's recognised expertise in reliability design and testing, particularly for software and systems, with Prenscia's current software and services will enable us to provide customers with a broader range of reliability-improvement solutions."This acquisition represents a further step in our strategy to provide solutions using a combination of software and services to enhance productivity and create greater value for our customers."