(Reuters) - Spectris (LON:SXS) Plc sold its U.S.-based barcoding business to Omron Corp for $157 million (121.41 million pounds) in cash, the measuring instruments maker said on Wednesday.
The company said the sale of industrial code reader Microscan Systems is likely to close in early fourth-quarter and is expected to raise 2017 adjusted earnings per share by about 2 pence.
Omron, a Japan-based producer of factory automation equipment, said it planned to acquire the U.S. peer from Spectris as it seeks to use the Internet of Things (IoT)to connect virtually all components and machines.
Through the acquisition, Omron said it expects to acquire a diversity of code readers incorporating Microscan's 2D code reading technology, and integrate them with Omron's automation technology.