Spectris Buys US company Omnicon for $29 Million

Spectris PLC (SXS.LN) said Wednesday that it has completed the acquisition of U.S. company Omnicom Group Inc. (OMC) for an initial consideration of $29 million.

The U.K.-based electronics company said that Omnicon provides a range of services in important U.S. industries, including aerospace, automotive, transportation and defense.

Spectrics believes that the acquisition provides it with strong geographic growth opportunities across the joint customer base of the two companies, in the U.S. and in Europe.

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

(END) Dow Jones Newswires

October 18, 2017 03:22 ET (07:22 GMT)