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 MTS Systems Corporation has announced that it signed a definitive agreement to acquire the operating entities of Danish company R&D, including R&D Test Systems, R&D Engineering, R&D Steel, R&D Prague, RGDK Engineering Private Limited and R&D Tools and Structures.
R&D expands MTS Test & Simulation technology base and market presence for wind energy and aerospace markets global. R&D, a Danish company founded in 2005, is known for the design and manufacture of test systems that accurately simulate the operating environments oftenen countered by large, rotating structures, such as wind turbines, and aircraft engine propulsion systems.The acquisition is expected to close by December 31, 2019.
Following closing, the R&D operations will be reported as part of the MTS Test & Simulation segment. R&D is expected to contribute over $40 million in incremental revenues in fiscal 2020. The acquisition is structured with an upfront payment of approximately $55 million with expected earnout payments of up to an additional $25 million based on financial performance through June 2021.
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