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Bids, Mergers and Takeovers

BATM acquires Green Lab Hungary Engineering

25 January 2016 07:26

BATM Advanced Communications has agreed to purchase Green Lab Hungary Engineering Ltd, a Hungary-based developer and distributor of analytical instruments, for USD3.8m cash over a three-year period.

BATM says the acquisition is in line with the group's stated strategy of becoming a prominent participant in the markets in which it operates. The primary reasons for the acquisition are:

· Green Lab operations are expected to be synergistic with BATM's Sterilisation Unit operations in Hungary and to provide an extensive network for the Group's products

· It is expected to increase activity in the Group's ECO unit, which focuses on agri-business applications and operates out of Hungary

· The Green Lab distribution network will be complementary to BATM's analytical instruments distribution in Romania, which the Board believes will strengthen the Group's medical business

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