SPX Technologies to Buy Kranze Technology Solutions for $350 Million

Dow Jones2024-12-23

By Colin Kellaher

SPX Technologies has struck a deal to buy Kranze Technology Solutions, a provider of digital interoperability and tactical networking solutions, for $350 million in cash.

SPX on Monday said the acquisition of Kranze, which expects to generate revenue of about $90 million next year, bolsters its communications-technologies platform.

SPX, a Charlotte, N.C., supplier of engineered products and technologies, has forecast 2024 revenue of $1.97 billion to $2 billion.

The company said it expects to complete the acquisition, which includes significant tax attributes, in the first quarter of 2025, adding that it plans to fund the deal by drawing on its revolving credit facility.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 23, 2024 08:19 ET (13:19 GMT)

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