India, Oct. 7 -- IMI plc (IMI), an engineering company, on Wednesday announced that it has agreed to acquire iSMA CONTROLLI S.p.A. from its current shareholders, including B.group and members of the management team.
The completion is expected in the fourth quarter of 2026.
The transaction has an enterprise value of €63 million.
The company said the cash consideration will be funded from its existing facilities.
The company said iSMA CONTROLLI's building automation platform will expand IMI's smart-connected product range.
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iSMA CONTROLLI is a provider of intelligent building automation systems and will become part of IMI's Climate Control sector....