AstroNova Acquires Portugal-Based MTEX NS, S.A. For Total Enterprise Value Of €24.3M

5/9/24 8:14:52 AM ET

Computer peripheral equipment

Technology

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Additionally, the transaction provides for up to a €4 million earnout payable to the seller over three years based on the achievement of specified revenue growth targets. AstroNova expects the transaction to add an additional $8 million to $10 million in revenue in this fiscal year.

MTEX NS operates an 81,000-square-foot engineering and manufacturing center and has strong distributors in Europe, the Middle East, and North and South America.

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AstroNova Acquires Portugal-Based MTEX NS, S.A. For Total Enterprise Value Of €24.3M

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Chief Technology Officer Natalizia Michael J was granted 210 shares, increasing direct ownership by 0.50% to 42,298 units (SEC Form 4)

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