Invensys goes on £52m spree in software and services sector

Automation and controls group Invensys has swooped on the software and services sector, spending £52m on two deals in the US and UK. The group, which was formed from the merger of BTR and Siebe, has bought UK Data Collection Services and Com-Trol in the US. UKDCS, based in Milton Keynes, collects and analyses data […]

Automation and controls group Invensys has swooped on the software and services sector, spending £52m on two deals in the US and UK.

The group, which was formed from the merger of BTR and Siebe, has bought UK Data Collection Services and Com-Trol in the US.

UKDCS, based in Milton Keynes, collects and analyses data for the UK electricity market, and was jointly owned by all 12 regional electricity companies.

Com-Trol is a North American software systems designer and also makes electronic control system for commercial refrigeration applications.

The company made a £1m profit last year on revenues of £7.7m.

Invensys is paying £38.5m cash for UKDCS on a debt and cash-free basis, and £13.98m cash, on the same basis, for Com-Trol.

They two new additions will form part of Invensys’ Controls Division, which manufactures climate controls, motors, sensors and building systems controls.

The latest deals follow £624m of acquisitions made last year, including debt.

Invensys is on track to sell some non-core operations soon. It recently said it would sell its automotive division, paper technology operations, environmental business and some smaller companies.

About 650 jobs will go from the businesses earmarked for sale, with a further 5,000 job cuts due to be made worldwide over the next three years.