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GE pays £152m for Spirent`s sensing group

01 October, 2001

GE pays £152m for Spirent`s sensing group

GE Industrial Systems is buying Spirent`s Sensing Solutions group for around £152m in cash. The UK-based group produces sensors and subsystems for measuring temperature, humidity and pressure. It employs around 2,000 people worldwide and generated a profit of £11.3m last year, from sales worth £90.7m.

Spirent says it is selling the group to focus on its telecommunications-related activities. Chief executive Nicholas Brookes says that the sensors business "faces a promising future under its new owners who can provide strong manufacturing and marketing resources to achieve its potential".

Lloyd Trotter, chief executive of GE Industrial Systems, says by acquiring "a recognised leader in sensor technology", his company will gain access to leading-edge technology. He adds that Spirent`s products "complement many of the industrial components manufactured by our business".

If the deal is approved by regulatory authorities, it is expected to be completed by the end of November.




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