Metrologic Takes Majority Stake in ATT
This acquisition is part of the growth strategy of Metrologic Group aiming at adding 3D industrial inspection services to its existing 3-D measuring global solutions. ATT is located in the suburbs of Seattle and has a roster of clients that include Boeing, Bombardier, Bell, Lockheed Martin, Vought, Spirit Aerospace and Northrop Grumman.
“Acquiring ATT will not only allow us to expand our client base, but also to team-up with the highest skilled 3-D measuring specialists located in a high-potential growth region for Metrologic Group,” comments Philippe Cimadomo, president and CEO of Metrologic Group.
“We are excited to have this relationship with Metrologic Group as it opens up new markets within the U.S., overseas and to a broader range of customers and industries with the world leader in 3-D metrology software,” adds Steve Ihlenfeldt, ATT's president and CEO. "There are many complimentary synergies between the companies and ATT will benefit from the global market presence, international business expertise and the superior software products offered by Metrologic Group.”
During 2008, ATT plans on reaching revenues of about 8.9 million, with a net profit of 14%. The purchase price was set at 5.4 million for 60% of the shares.