IDEX Corporation acquired Phantom Controls (intellectual property assets) for $4.0 million (cash), a transaction completed in June 2018, structured as all cash (IP asset purchase). The deal was a Asset purchase.
Phantom Controls (intellectual property assets) operates in Fire & Safety/Diversified Products. Acquisition of the intellectual property assets of Phantom Controls; operational capabilities and pump-operation technology complement IDEX's water-flow expertise of Hale, Akron Brass and Class 1.
Complements existing water-flow expertise of Hale, Akron Brass and Class 1 to improve fire ground safety. Fire & Safety/Diversified Products segment
On June 22, 2018, the Company acquired the intellectual property assets of Phantom Controls (“Phantom”) for cash consideration of $4.0 million. The operational capabilities and innovative pump operation of Phantom's technology complements our existing water-flow expertise of Hale, Akron Brass and Class 1.
Advisory firms were not disclosed for this transaction.