Benzinga | Aug 24, 2021 06:35AM EDT

Nordson To Acquire NDC Technologies From Spectris For $180M

* Nordson Corp (NASDAQ:NDSN) has agreed to acquire the NDC Technologies business from Spectris plc (OTC:SEPJF) for $180 million in cash.

* Dayton, Ohio-based NDC Technologies is a provider of precision measurement solutions for in-line manufacturing process control. It generates ~$90 million in annual revenue and $15 million in EBITDA.

* NDC Technologies' technology portfolio includes in-line measurement sensors, gauges, and analyzers.

* This acquisition expands Nordson's test and inspection platform into new end markets and adjacent technologies. It is further progress on Nordson's Ascend Strategy to achieve top-tier growth with leading margins and returns.

* Nordson held cash and cash equivalents of $133.32 million as of April 30, 2021.

* Price Action: NDSN closed higher by 0.55% at $231.02 on Monday.