Halma Purchases Labsphere from X-Rite

Safety, health and sensor technology group Halma plc of Amersham, UK, has acquired Labsphere Inc. from color management system developer X-Rite Inc. of Grand Rapids, Mich. The transaction involves an initial cash consideration of $13.9 million and a deferred consideration of $1.5 million, pending the finalization of the completion accounts. If these accounts to Dec. 31 demonstrate net tangible assets below $8 million, the deferred consideration will be adjustable dollar for dollar.

Based in North Sutton, N.H., Labsphere manufactures light testing and measurement products and specialized optical coatings for government and commercial organizations.