Spectris buys US-based SciAps for up to $260m

UK precision instrument maker Spectris on Thursday said it was buying US-based SciAps for up to $260m (£205m).

The deal is comprised of an up-front payment of $200m plus a deferred element of up to $60m payable on the delivery of agreed financial metrics.

Based in Boston, Massachusetts, SciAps is a specialist provider of handheld instruments for materials analysis.

SciAps instruments identify compounds, minerals and elements in materials in major industries such as mining, metal recycling, battery materials, rare earth metals, manufacturing, food and agriculture.

Reporting by Frank Prenesti for Sharecast.com