Atlas Copco to acquire Edwards Group for up to $1.6 billion

Reuters

Swedish engineering group Atlas Copco said on Monday it would acquire British industrial technology firm Edwards Group for up to $1.6 billion.

Atlas Copco said the acquisition was an all-cash transaction utilizing its own funds and that the transaction would close in the first quarter.

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"Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well," Atlas Copco CEO Ronnie Leten said in a statement. "It is a great fit for Atlas Copco."

(Reporting by Mia Shanley; Editing by Alistair Scrutton)