Transcat, Inc. (TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has acquired Infinite Integral Solutions Inc. (“IIS”), effective July 19, 2019. IIS, headquartered in Mississauga, Ontario, Canada, is the owner and developer of the CalTree™ suite of software solutions for the automation of calibration procedures and datasheet generation. Total consideration for the shares of IIS was C$1.4 million, subject in part to the achievement of certain milestones.
“We believe this acquisition will greatly enhance our operational efficiency efforts and allow us to build out a commercialized platform capable of facilitating calibration automation for various disciplines,” commented Lee D. Rudow, President and Chief Executive Officer. “While we are in the early testing phases, beta test results in our Rochester lab have been positive, and rollout for the first limited set of calibration disciplines is expected in the near-term. Following the expected successful rollout, we plan to develop automation opportunities for additional disciplines. Ultimately, we expect to produce a scalable solution that, among other initiatives, will help to manage the accelerated top-line growth we expect to see continue while optimizing our Service segment productivity every day to enhance our gross margin.”
Date: July 29, 2019
Source: Yahoo
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