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MTSC - MTS Systems News Story

$58.49 0.0  0.0%

Last Trade - 06/04/21

Sector
Industrials
Size
Mid Cap
Market Cap £815.3m
Enterprise Value £1.15bn
Revenue £588.0m
Position in Universe th / 6858

BRIEF-MTS Systems Expands Presence In Wind Energy, Aerospace Markets Through Acquisition Of Danish Engineering Firm

Mon 25th November, 2019 9:32pm
Nov 25 (Reuters) - MTS Systems Corp  MTSC.O :
    * MTS EXPANDS PRESENCE IN WIND ENERGY AND AEROSPACE MARKETS
THROUGH ACQUISITION OF DANISH ENGINEERING FIRM
    * MTS SYSTEMS CORP - ON NOVEMBER 22, 2019, CO SIGNED A
DEFINITIVE
AGREEMENT TO ACQUIRE OPERATING ENTITIES OF RESEARCH AND
DEVELOPMENT, A DANISH COMPANY FOUNDED IN 2005
    * MTS SYSTEMS CORP - ACQUISITION IS STRUCTURED WITH AN
UPFRONT
PAYMENT OF APPROXIMATELY $55 MILLION
    * MTS SYSTEMS CORP - ACQUISITION'S UPFRONT PAYMENT OF
APPROXIMATELY $55 MILLION WILL BE FUNDED PRIMARILY THROUGH MTS'
EXISTING REVOLVING CREDIT FACILITY
    * MTS SYSTEMS CORP - FOLLOWING DEAL CLOSING, RESEARCH AND
DEVELOPMENT OPERATIONS WILL BE REPORTED AS PART OF MTS TEST &
SIMULATION SEGMENT
    * MTS SYSTEMS - SEES RESEARCH AND DEVELOPMENT CONTRIBUTING
OVER
$40 MILLION IN INCREMENTAL REVENUE IN FISCAL 2020 & TO BE
ACCRETIVE TO ADJUSTED. EBITDA MARGINS FOR TEST & SIMULATION
SEGMENT

Source text for Eikon:  ID:nPn6Hh6jKa 
Further company coverage:  MTSC.O 

 ((Reuters.Briefs@thomsonreuters.com;))
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