Alaris in talks to buy UK firm, but no details given
In 2020, the group said it was considering more acquisitions and merger opportunities
Antenna specialist Alaris Holdings says it is in talks to buy a UK operation.
Alaris’s main business is the design and manufacturing of specialised broadband antennas, as well as other related radio-frequency products used in military and public-safety industries. Its clients are mostly in the Americas, Europe and Asia.
In a note to shareholders on Wednesday, the group said it has “entered into negotiations to acquire a business operating in the UK”. No mention was made of the name or line of business of the targeted firm.
If the deal is successful, it may have “a material effect” on Alaris’s share price, the company said.
International business has been a focus for Alaris for years.
The group, worth R307.41m, makes a large portion of its revenue from its international operations. In the year to June, Alaris’s US unit, mWave, and its Finland-based COJOT business — acquired in 2016, accounted for R139m of about R243m of group revenue.
In September 2020, the group said it was considering more acquisitions and merger opportunities as it seeks to deepen and broaden its expertise in the microwave and radio-frequency electronics space.
Shares in Alaris, down 2% so far in 2021, were 1.61% weaker during lunch time trade on Wednesday at R2.45.
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