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After a series of smaller acquisitions in CY24, discoverIE has acquired Burster Group, a German-based sensor business, for cash of €30.6m/£25.9m. Generating operating margins above the group target of 15%, Burster will join the Sensing cluster within Sensing & Connectivity. discoverIE estimates the deal will be earnings accretive for FY26; we upgrade our FY26 underlying diluted EPS by 1.3%. Pro forma gearing of 1.6x at the end of FY25 sits at the lower end of the 1.5–2.0x target range, leaving further headroom for future deals.
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