Standex Acquires Minntronix For $30M; Bolsters Presence In 5G, Smart Grid, And Industrial Automation
Portfolio Pulse from Akanksha Bakshi
Standex International Corp (NYSE:SXI) has acquired South Dakota-based Minntronix for approximately $30 million in cash. The acquisition is expected to be accretive to Standex's earnings and achieve a double-digit return on invested capital. The move expands Standex's presence in fast-growing markets such as 5G, smart grid, and industrial automation.
July 31, 2023 | 2:17 pm
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POSITIVE IMPACT
Standex's acquisition of Minntronix for $30M is expected to be accretive to its earnings and strengthen its position in growing markets. This could potentially lead to a positive impact on its stock.
The acquisition of Minntronix by Standex is a strategic move that is expected to be accretive to its earnings and strengthen its position in growing markets such as 5G, smart grid, and industrial automation. This could potentially lead to increased investor confidence and a positive impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100