Lindsay Agrees To Acquire 49.9% Minority Interest In Austria-based Pessl Instruments GmbH, With An Option To Acquire Remainder At A Later Date; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Lindsay Corporation has agreed to acquire a 49.9% minority interest in Austria-based Pessl Instruments GmbH, which has over 80,000 connected in-field data collection devices and 50,000 active customers. The deal, for which terms were not disclosed, is expected to close in the second half of fiscal 2024.
April 03, 2024 | 8:08 pm
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Lindsay Corporation's acquisition of a 49.9% stake in Pessl Instruments could enhance its product offerings and market reach, potentially boosting its financial performance in the long term.
The acquisition of a significant minority stake in Pessl Instruments positions Lindsay Corporation to potentially enhance its product offerings and expand its market reach. Given Pessl's strong presence in the in-field data collection market, this move could be seen as a strategic investment to bolster Lindsay's long-term financial performance and competitive position. However, the lack of disclosed terms and the future option to acquire the remainder make the immediate financial impact uncertain, hence the confidence score is not at the maximum.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90