Mississauga, ON, November 12th — Sensors & Software Inc., a worldwide leader in Ground Penetrating Radar (GPR) innovations, announced that the company has been acquired by SPX Corporation (NYSE:SPXC), a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Sensors & Software will be part of the Detection & Measurement segment of SPX and report through SPX’s Radiodetection business unit.
“Sensors & Software joining with Radiodetection empowers expanded distribution and advancement of our GPR products. The synergies between the companies in the SPX Detection and Measurement segment are extensive and provide attractive new business opportunities, We are excited about the future ahead for both our business and our employees.” said Peter Annan, President & CEO of Sensors & Software Inc.
“We are excited about Sensors & Software joining the SPX team” said Gene Lowe, President and CEO of SPX Corporation. “Sensors & Software is a leader in GPR applications, with a strong brand, technology and user base that make it a highly complementary addition to our Radiodetection business’s industry-leading portfolio of cable and pipe locator and other detection and measurement products. We expect this combination to drive incremental value by leveraging our combined products, technologies, sales networks and channels.”
About Sensors & Software Inc.: Headquartered in Mississauga, Ontario, Sensors & Software is the worldwide leader of Ground Penetrating Radar innovations. The company offers a wide range of hardware and software products and services designed to understand what lies beneath the surface and empower informed decision-making. For more information, please visit www.sensoft.ca.
About SPX Corporation: SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in Charlotte, North Carolina, SPX Corporation had approximately $1.5 billion in annual revenue in 2019 and over 4,500 employees in 17 countries. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.
Investor and Media Contacts:
Paul Clegg, VP, Investor Relations and Communications