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inTEST Closes Acquisition of Acculogic, Adding Electronic Circuit and Electric Vehicle Battery Testing.

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Vincent

MANews-(C)2009-2021

US-based test and process solutions provider inTEST Corp. (NYSE American: INTT) has closed the acquisition of robotics-based electronic production test equipment and application support services provider Acculogic Inc. and its affiliates for approximately USD 9m, the company said.

The purchase price will be funded with borrowings under the company's existing delayed draw term credit facility.

With the acquisition, inTEST will be adding approximately USD 9m in annual revenue.

The company expects incremental acquisition-related expenses to be approximately USD 0.05 per diluted share of which approximately USD 0.02 are expected in the fourth quarter of 2021 regardless of the timing of closing.

In addition, the company intends to invest in growth in the first half of 2022 as Acculogic operations are integrated.

In 2022, net of transaction costs and anticipated investments, Acculogic is expected to be approximately USD 0.02 accretive to diluted earnings per share.

Founded in 1992 and headquartered in Markham, Ontario, Canada, Acculogic designs and manufactures a range of systems and instruments for testing electronic devices, circuit boards and systems used to validate designs, ensure the integrity of prototypes, improve production processes...

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