discoverIE Group - Expanding margins and international exposure
discoverIE has acquired Cursor Controls Group, a UK-based designer and manufacturer of human-to-machine interface products for £19m in initial cash consideration. Management expects the deal to be immediately earnings enhancing and to boost group operating margins. This acquisition follows the group’s strategy to build the Design & Manufacturing (D&M) business and to grow the proportion of international revenues.discoverIE Group designs, manufactures and supplies electronic products, supplying customers in the transportation, medical, renewable energy and industrial sectors. Co.'s business is focused in five technology areas, which include communication and sensors, imaging and photonics, power and magnetics, microsystems, and electromechanical and cabling. Co. operates across two divisions: Design & Manufacturing, which supplies custom electronic products which are designed or modified from an existing product to customer specifications; and Custom Distribution, which provides technically demanding, customized electronic, photonic and medical products to industrial manufacturers.
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