LAKEWOOD, Colo., Nov. 6, 2013 /PRNewswire/ -- Mesa Laboratories, Inc. (NASDAQ: MLAB) (we, us, our, "Mesa" or the "Company") today announced the acquisition of two businesses involved in providing continuous monitoring (or "CM") systems to regulated industries. Mesa acquired substantially all of the assets and certain liabilities of Amega Scientific Corporation, a New Jersey corporation ("Amega") and all of the outstanding shares of common stock of TempSys, Inc., a California corporation ("TempSys").
The acquisition price for TempSys consisted of cash consideration of $9,500,000, subject to a working capital adjustment. The acquisition price for substantially all the assets and certain liabilities of Amega consisted of cash consideration of $12,268,000, and a future potential payment of up to $10,000,000 based on the cumulative three year revenues of Mesa's total CM business. The acquisition of these two businesses is expected to add approximately $10,000,000 to Mesa's revenues and to be accretive to our earnings per share within the first twelve months.
CM systems are used by a wide variety of companies and institutions to monitor various environmental parameters such as temperature, humidity, differential pressure, and door closure state, to ensure that critical storage and processing conditions are maintained, and to provide alarms if certain values are exceeded. Governmental quality control regulations throughout the world require continuous monitoring of refrigerators, freezers, incubators, warehouses, manufacturing environments, and a wide variety of other controlled environments. The primary markets for CM systems are hospitals, pharmaceutical and medical device manufacturers, blood banks, pharmacies, the food industry and a number of other laboratory
|SOURCE Mesa Laboratories, Inc.|
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