Metris Acquires CMM Software Company Integrated Quality
Leuven - Metris (MTRS, Euronext Brussels) announces that it has acquired 100% of the stock of Integrated Quality Inc. (IQ), a US company specialized in developing software for Coordinate Measuring Machines (CMM). This transaction fits in the Metris acquisition strategy to strengthen its product portfolio and to extend its distribution channels to the market.
The purchase price amounts to US$5.9M, representing an EV/EBIT08 multiple of 4.5. Independently from Metris, IQ expected for 2008 a sales growth of more than 20% and an EBIT margin above 50%.
“As a result of this acquisition, we can now offer mid-segment, easy-to-use CMM software that interfaces with nearly all Coordinate Measuring Machine brands. In addition, we will benefit from the complementary distribution channels to deploy our new technology products.” comments Bart Van Coppenolle, President and CEO of Metris, “The IQ acquisition will further leverage the Coord3 (aluminum CMMs) and Garda (articulated arms) acquisitions and strengthen our position in the mid-segment micro-metrology market. More specifically, this acquisition will expand Metris’ retrofit services and accelerate the adoption of our optical technologies in the mid-segment market.”