The Weir Group PLC (LSE:WEIR) agreed to acquire Motion Metrics International Corp. for £148 million on November 5, 2021. The initial consideration of £89 million is payable in cash upon completion, subject to customary net debt and working capital adjustments. In 2021, Motion Metrics generated revenues of £9 million. Motion Metrics will become part of Weir's ESCO division, with its extensive team of researchers, data scientists and engineers also supporting the increased digitisation of the broader Weir product portfolio. Motion Metrics is expected to be accretive to ESCO's margins by 2023 with returns expected to exceed the Group's cost of capital by 2024 in line with Weir's capital allocation policy. Up to a further £59 million will be payable in cash by Weir at the end of 2024, depending on revenue and profit performance. The transaction will be funded through cash and existing banking facilities. Over the next two years integration costs are expected to total £3 million. The acquisition is expected to complete in the fourth quarter of 2021.John O'Connor, Kiren Matharu, Ted Rhodes, Valerio Salgado, Gregor Kennedy, Anastasia Dukhina, Maxim BOULBA, Elena Andrianova, Deepa Vallabh, Sihle Bulose and Savanna Stephens of CMS von Erlach Partners Ltd acted as legal advisor to The Weir Group Plc.


The Weir Group PLC (LSE:WEIR) completed the acquisition of Motion Metrics International Corp. on December 1, 2021.