SPX Technologies (SPXC) announced that it has entered into a definitive agreement to purchase Kranze Technology Solutions, KTS, a leader in digital interoperability and tactical networking solutions. Upon closing, KTS will become a part of SPX Technologies’ Communication Technologies platform, within its Detection & Measurement segment. Under the terms of the agreement, SPX Technologies will purchase KTS and certain significant tax attributes for approximately $350 million in cash. KTS is anticipated to generate revenue of approximately $90 million for the full year 2025, with a segment income margin and revenue growth rate that are both modestly above the Detection & Measurement segment average.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPXC:
- Shopify upgraded, Deere downgaded: Wall Street’s top analyst calls
- SPX Technologies downgraded to Neutral from Buy at Sidoti
- SPX Technologies initiated with an Outperform at Wolfe Research
- SPX Technologies Reports Strong Q3 2024 Results
- SPX Technologies backs FY24 adjusted EPS view $5.45-$5.60, consensus $5.54