MT. LAUREL, N.J. - inTEST Corporation (NYSE American: INTT), a global technology solutions provider, has announced the acquisition of Alfamation S.p.A., a renowned test and measurement solutions company.
This strategic move is expected to strengthen inTEST's presence in its key markets, including automotive/EV and life sciences, while also expanding its consumer electronics reach. The acquisition, terms of which were filed with the Securities and Exchange Commission, positions Alfamation within inTEST’s Electronic Test division.
Alfamation, based in Milan, Italy, with a subsidiary in Suzhou City, China, has been recognized for its engineering prowess in creating a suite of products ranging from test modules to fully automated systems. Its portfolio includes the Hyperion™ test platform, WALOT™ wafer-level optical component testers, and Pixelshooter™, an automated display and instrument cluster tester with integrated robotics.
The Flexmedia XM® family, Alfamation's specialty automotive test tools, is particularly noted for its modularity and cost-effectiveness. With an annual revenue of approximately $25 million and a backlog of $15 million as of December 31, 2023, Alfamation is anticipated to contribute positively to inTEST’s financial growth in 2025.
Nick Grant, President and CEO of inTEST, expressed confidence in the acquisition, highlighting Alfamation's alignment with inTEST's mission and its potential to advance the company's 5-Point Strategy. He stressed the value Alfamation's engineering talent and strong management team will bring to inTEST.
inTEST has updated its full-year 2024 revenue expectations to range between $145 million and $155 million. While the acquisition is predicted to dilute earnings per share in 2024, it is projected to be accretive to non-GAAP adjusted earnings per diluted share, considering the anticipated amortization of intangible assets.
inTEST Corporation specializes in test and process technology solutions across various industries, including automotive/EV, defense/aerospace, industrial, life sciences, security, and semiconductor manufacturing.
This article is based on a press release statement.
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