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AIM-listed industrial engineering firm 600 Holdings (LON:SIXH) has seen its share price increase by 2.83% to 18.51p (as of 12:55 BST) after it announced the acquisition of Control Micro Systems. The US-based firm is a specialist in integrated laser applications and has been bought for a total consideration of $10 million, of which $9 million is payable in cash.
Executive Chairman Paul Dupee said: “The acquisition of CMS significantly enhances the Group’s laser business and marks a further step forward in our strategy of building a global business across increasingly diversified niche markets worldwide.
“CMS has a long-established track record for delivering high quality customer solutions and will likewise benefit from the Group’s established sales platform and marketing capability.
“We are delighted to welcome CMS and its employees into the Group“.