ALT and MSI Acquisition Presentation

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Stock IMDEX Ltd (IMD.ASX)
Release Time 1 Dec 2025, 8:24 a.m.
Price Sensitive Yes
 IMDEX to acquire ALT and MSI for A$134m
Key Points
  • IMDEX to acquire 100% of Luxembourg-based Advanced Logic Technology (ALT) and its subsidiary, Denver-based Mount Sopris Instruments (MSI)
  • Consideration comprises upfront payment of €55.8m (~A$98.9m) and performance-linked deferred consideration of up to €20m (~A$35.4m)
  • Expected to contribute ~A$10 million in incremental revenue and ~A$2 million normalised EBITDA in FY26
  • Expected to be EPS accretive in the first full fiscal year of ownership, before any cost and revenue synergies
Full Summary

IMDEX has announced the acquisition of 100% of Luxembourg-based Advanced Logic Technology SA (ALT) and its subsidiary, Denver-based Mount Sopris Instruments Inc. (MSI), for a total consideration of up to A$134 million. The consideration comprises an upfront payment of €55.8m (~A$98.9m) and performance-linked deferred consideration of up to €20m (~A$35.4m). ALT is a global leader in high-performance downhole rock property sensor systems and geoscience data processing software, including the industry-standard WellCAD software package. MSI is a US-based leading developer of downhole rock property sensors, deployment and telemetry systems. The acquisition is expected to contribute approximately A$10 million in incremental revenue and A$2 million in normalised EBITDA in FY26, and to be EPS accretive in the first full fiscal year of ownership, before the inclusion of any cost and revenue synergies. The transaction is expected to complete within Q3 FY26, subject to customary closing conditions, including foreign investment approval in Luxembourg. The acquisition aligns with IMDEX's growth strategy, broadening its sensor portfolio, digital offerings, and expanding its presence in adjacent earth systems markets, including infrastructure, civil, environmental, groundwater and energy.

Guidance

The acquisition is expected to contribute approximately A$10 million in incremental revenue and A$2 million in normalised EBITDA in FY26.

Outlook

The acquisition is expected to be EPS accretive in the first full fiscal year of ownership, before the inclusion of any cost and revenue synergies. IMDEX sees a range of new revenue and cost efficiency opportunities from the transaction.