The deal is likely to go through in the fourth quarter of this year, and it could increase by a further £59m by the end of 2024 depending on revenue and profit performance.
Integration costs are predicted to reach £3m.
Motion Metrics is a
The firm creates smart, rugged cameras that can assess key mining issues such as equipment performance, payloads, and rock fragmentation.
Its products aim to improve miner safety and efficiency, alongside the sustainability of operations.
So far this year, Motion Metrics has generated revenues of £9m despite difficult market conditions over the past 18 months since the outbreak of the pandemic.
As part of the agreement, its headquarters in
Motion Metrics will also become part of Weir’s ESCO division, with its team of researchers, data scientists and engineers supporting Weir’s broader product portfolio.
ESCO is a manufacturing specialist that was acquired by Weir in 2018 and has since been integrated into the company.
The post
© City AM, source