inTEST Corporation Expands with Strategic Alfamation Acquisition

The latest update is out from inTEST Corporation (INTT).

InTEST Corporation has finalized a significant acquisition, purchasing all outstanding shares of Alfamation S.p.A. for €20 million and additional assets. This strategic move includes a mix of cash and stock payments, with post-closing adjustments and an escrow arrangement to secure indemnification claims. Additionally, Alfamation has secured a six-year lease for warehouse and office space, with renewal options. This development is part of inTEST’s broader strategy, which also involves equity grants for top executives and a planned press conference to discuss the acquisition and financial restatements.

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