SPX Technologies Acquires FIS Water, Expanding Water Solutions
SPXC is trading near its 52-week low of $176.21 (1.2% above the low).
Summary
SPX Technologies announced the acquisition of FIS Water, expanding its water solutions portfolio. The deal is valued at about $410 million in cash. This follows the recent Neptronic acquisition and comes as the stock trades near its 52-week low. The acquisition adds a complementary business in the water sector and is the second acquisition in recent months, signaling continued M&A activity. The company's Q2 results showed strong growth, and this deal could further bolster its industrial portfolio.
At the time of this announcement, SPXC was trading at $178.31 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $8.9B. The 52-week trading range was $176.21 to $251.08. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.