{"id":379679,"date":"2020-11-12T08:33:35","date_gmt":"2020-11-12T13:33:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379679"},"modified":"2020-11-12T08:33:35","modified_gmt":"2020-11-12T13:33:35","slug":"spx-announces-purchase-of-sensors-software-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/spx-announces-purchase-of-sensors-software-inc\/","title":{"rendered":"SPX Announces Purchase of Sensors & Software Inc."},"content":{"rendered":"
\n

CHARLOTTE, N.C., Nov. 12, 2020 (GLOBE NEWSWIRE) — SPX Corporation (NYSE:SPXC) today announced that it has completed the acquisition of Sensors & Software Inc. (\u201cSensors & Software\u201d), based in Mississauga, Ontario. Sensors & Software is a manufacturer and distributor of Ground Penetrating Radar (GPR) products used for locating underground utilities, detecting unexploded ordinance, and geotechnical and geological investigations.<\/p>\n

\u201cWe are excited about Sensors & Software joining the SPX team,\u201d said Gene Lowe, President and CEO of SPX Corporation. \u201cSensors & Software is a leader in GPR applications, with a strong brand, technology and user base that make it a highly complementary addition to our Radiodetection business\u2019 industry-leading portfolio of cable and pipe locator and other detection and measurement products. We expect this combination to drive incremental value by leveraging our combined products, technologies, sales networks and channels.\u201d<\/p>\n

The company\u2019s results will be reported as a part of SPX\u2019s Radiodetection business unit. After taking into account intercompany sales, Sensors & Software is anticipated to contribute $6-8 million of annual revenue and to be modestly accretive to the margin profile of the Detection & Measurement segment.<\/p>\n

\n About SPX Corporation<\/strong>:\u00a0 SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in Charlotte, North Carolina, SPX Corporation had approximately $1.5 billion in annual revenue in 2019 and over 4,500 employees in 17 countries. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol \u201cSPXC.\u201d\u00a0 For more information, please visit www.spx.com<\/a>.<\/p>\n

\n About <\/strong>
\n Sensors & Software<\/strong>
\n Inc.<\/strong>
\n :\u00a0<\/strong> Headquartered in Mississauga, Ontario, Sensors & Software is the worldwide leader of Ground Penetrating Radar innovations. The company offers a wide range of hardware and software products and services designed to understand what lies beneath the surface and empower informed decision-making. For more information, please visit www.sensoft.ca<\/a>.<\/p>\n

SOURCE SPX Corporation.<\/p>\n

\n Investor <\/strong>
\n and Media <\/strong>
\n Contacts:<\/strong>
\n
Paul Clegg, VP, Investor Relations and Communications
Phone:\u00a0 980-474-3806
E-mail: spx.investor@spx.com<\/a><\/p>\n<\/p>\n

\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

CHARLOTTE, N.C., Nov. 12, 2020 (GLOBE NEWSWIRE) — SPX Corporation (NYSE:SPXC) today announced that it has completed the acquisition of Sensors & Software Inc. (\u201cSensors & Software\u201d), based in Mississauga, Ontario. Sensors & Software is a manufacturer and distributor of Ground Penetrating Radar (GPR) products used for locating underground utilities, detecting unexploded ordinance, and geotechnical and geological investigations. \u201cWe are excited about Sensors & Software joining the SPX team,\u201d said Gene Lowe, President and CEO of SPX Corporation. \u201cSensors & Software is a leader in GPR applications, with a strong brand, technology and user base that make it a highly complementary addition to our Radiodetection business\u2019 industry-leading portfolio of cable and pipe locator and other detection and measurement products. We … <\/p>\n

Continue reading “SPX Announces Purchase of Sensors & Software Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-379679","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSPX Announces Purchase of Sensors & Software Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spx-announces-purchase-of-sensors-software-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPX Announces Purchase of Sensors & Software Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CHARLOTTE, N.C., Nov. 12, 2020 (GLOBE NEWSWIRE) — SPX Corporation (NYSE:SPXC) today announced that it has completed the acquisition of Sensors & Software Inc. 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