April 27, 2018 / 10:45 AM / a month ago

Sandvik to buy French software firm Metrologic for 360 mln euros

STOCKHOLM, April 27 (Reuters) - Swedish engineering group Sandvik said on Friday it would buy French software company Metrologic Group for 360 million euros ($435 million) on a cash and debt-free basis to boost its digital manufacturing capabilities.

Metrologic Group’s software includes automation and robotics control as well as services for calibration and 3D-measuring. It is used in the automotive, aerospace, energy and general engineering sectors, among others.

“The combined offering of Sandvik Machining Solutions and Metrologic Group would help customers achieve a more seamless manufacturing chain by linking the machining and quality assurance processes,” Sandvik said in a statement.

Metrologic Group reported revenue of 43.3 million euros for the year to September 2017.

Sandvik said its EBITDA margin would be accretive to that of Sandvik Machining Solutions.

Sandvik said the acquisition would initially have a neutral to slightly positive impact on earnings per share.

$1 = 0.8280 euros Reporting by Simon Johnson; editing by Jason Neely

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