Judges Scientific is pleased to announce that the Company's wholly-owned subsidiary, Fire Testing Technology ("FTT"), has acquired the business of Fire Instrumentation & Research Equipment ("FIRE").
FIRE is a highly regarded fire testing equipment manufacturing and servicing business. FTT is purchasing the goodwill and a selection of assets from FIRE and is assuming certain liabilities. The purchase consideration is not material in the context of the annual revenues of the Judges Group.
The business will be transferred to FTT's factory in East Grinstead and the transaction is expected to further FTT's pursuit of excellence in terms of:
· Cross utilisation of state of the art features of respective ranges;
· Consolidation of software development; and
· Servicing customers worldwide.
Dr Sean Gregory, Managing Director of FTT, said: "I have every confidence that our alliance with a business of FIRE's calibre will yield significant operating benefits."
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