The surveying technology company, Leica Geosystems, is to continue its expansion in the United States with the acquisition of the Laser Alignment company, based in Michigan.This content was published on December 11, 2000 - 10:30
The deal, announced on Monday, is valued at $23.3 million (SFr39.6 million). It will be financed with cash and is expected to close in early January.
A statement from Leica Geosystems headquarters in Heerbrugg said the acquisition would allow the company to establish a strong position in high-precision 3D guidance and automated machine control systems for use on construction sites, in mining applications and in the agricultural market.
The deal comes just three weeks after Leica Geosystems announced the acquisition of the California-based Cyra Technologies company, active in laser technology and software.
The chief executive of Leica Geosystems, Hans Hess, said the latest acquisition achieved a number of strategic objectives.
"Especially in the fast-growing machine-control and guidance market, the skills and strengths of Laser Alignment is expected to accelerate the achievement of our strategic goals," he said.
"With our expanded range of products and services, we will now be a far more attractive partner to our customers in these areas," he added.
swissinfo with agencies
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