Major acquisition for international technology company
Tue, 3 August 2010
Pure Technologies, a leader in inspection technology for large diameter pre-stressed concrete cylinder pipelines, recently announced an agreement to acquire Pressure Pipe Inspection Company.
The Pressure Pipe Inspection Company (PPIC), a privately-held company with headquarters in Mississauga, Ontario in Canada, is a leader in large-diameter water and wastewater pipeline condition assessment. PPIC is currently active in North America (including Mexico), South America, the Philippines and Hong Kong. For the fiscal year ended 30 September 2009, PPIC had revenues of $US14.6 million.
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The transaction of up to $US34.9 million in cash and common stock of Pure Technologies is expected to close on or before 31 August 2010.
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