UK-based test equipment lessor Microlease has
acquired US rival MetricTest for an undisclosed amount.
Microlease, already present in the US, will
use the acquisition to expand across the American market.
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As a result of the acquisition, Microlease
anticipates its income in the US will exceed $50m (€36m) in its
current financial year and more than $90m (€65m) in the following
12-month period, according to a statement released by the
company.
Microlease chief executive, Nigel Brown, will
lead the MetricTest board as chairman, president and chief
operating officer and Vern Stevenson will move from those positions
to serve as chief executive based in California.
Brown said: “The two companies are an
excellent match and have many shared positive attributes, including
a high standard of engineering competence amongst the sales
force.
“We believe this latest acquisition will form
an important part of our continued commitment to meet growing
demand for cost-effective test equipment and services
globally.”
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By GlobalDataThe two companies, both of which provide
lease, rental and sales options for electronic test equipment as
well as asset management services, already have business
relationships with many of the same equipment manufacturers
although the deal will mean MetricTest will have to a greater
inventory of equipment, according to the Microlease statement.
grant.collinson@vrlfinancialnews.com
