LONDON (ShareCast) - (Sharecast News) - DiscoverIE Group said on Thursday that it has agreed to buy Burster, a German designer and manufacturer of specialist sensors, for up to €43m (£36.3m).
Founded in 1961, Burster produces specialist sensors including precision load cells, torque sensors, displacement and pressure sensors, and electronic measurement instruments for markets closely aligned with the group's target markets, DiscoverIE said.

It said that Burster benefits from a low customer concentration and sells into around 60 countries. International markets make up approximately 40% of sales, notably the rest of Europe, Asia and North America.

Burster, under its existing ongoing management, will join DiscoverIE's Sensing cluster within the Sensing & Connectivity division.

Chief executive Nick Jefferies said: "The group entered the second half with circa £70m of capacity for acquisitions and the acquisition of Burster continues our strategy of building a differentiated, international, growth-focused electronics group with stronger operating margins.

"The transaction brings another high-quality business into discoverIE with strong alignment to our target markets, which is accretive to both underlying earnings and group margin."

DiscoverIE is an international group of businesses that design and manufacture innovative electronic components for industrial applications.

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