January 4, 2008 — Measurement Specialties Inc. (Nasdaq: MEAS), a global designer and manufacturer of MEMS sensors and sensor-based systems, has acquired the Swiss-based pressure sensor maker Intersema Sensoric SA.
MEAS acquired the outstanding capital stock of Intersema for approximately $39.7 million in cash and notes, plus an additional $17.3 million if certain performance thresholds are achieved. MEAS acquired approximately $9.6 million in cash as part of the transaction, which closed December 28.
“Intersema is a leader in the barometric and sub-sea depth measurement markets, and extends our pressure capabilities with the addition of low pressure, harsh media and ultra-small packaged configurations,” Frank Guidone, the company’s chief executive, said in a news release, adding that he expects acquisition to add about $17 million in sales.
“We believe the additional infrastructure we gain in Switzerland will provide us a much needed base of engineering talent and infrastructure to address the European pressure market,” he said.