AstroNova Acquires Portugal-Based MTEX NS, S.A. For Total Enterprise Value Of €24.3M
Portfolio Pulse from Benzinga Newsdesk
AstroNova acquired Portugal-based MTEX NS, S.A. for a total enterprise value of €24.3M, with an additional earnout of up to €4M based on revenue growth. The acquisition is expected to add $8M to $10M in revenue for AstroNova this fiscal year. MTEX NS has a significant presence in Europe, the Middle East, and the Americas.
May 09, 2024 | 12:14 pm
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AstroNova's acquisition of MTEX NS for €24.3M, with potential €4M earnout, is expected to boost revenues by $8M to $10M this fiscal year, expanding its global presence.
The acquisition of MTEX NS by AstroNova is directly aimed at expanding its product line and market reach, which is expected to significantly increase its revenue in the short term. Given the size of the deal and the expected revenue growth, this move is likely to be viewed positively by investors, potentially leading to an increase in AstroNova's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100