Sandvik to Acquire Metrology Software Company Metrologic Group

In line with its strategic agenda to broaden Sandvik Machining Solutions’ customer offering in digital manufacturing, Sandvik intends to acquire the French software company Metrologic Group from Astorg Partners at a price of 360 million EUR, on a cash and debt free basis.

Headquartered in Meylan, France, Metrologic Group is a market leader in agnostic metrology software. In its fiscal year ending in September 2017 Metrologic Group generated revenues of 43.3 million EUR with an EBITDA margin which would be accretive to that of Sandvik Machining Solutions. Metrologic Group would form a new business unit within a new product area in Sandvik Machining Solutions and would maintain brand independence, in line with Sandvik's decentralized business model. The Metrologic Group management team would remain with the company.

The combined offering of Sandvik Machining Solutions and Metrologic Group would help customers achieve a more seamless manufacturing chain by linking the machining and quality assurance processes.

The transaction is expected to close mid-2018 following consultation with works council and is subject to customary regulatory approvals.