In Business
Staff -- Control Engineering, 2/1/2000
- Parker Hannifin Corp. (Cleveland, O.) and Commercial Intertech Corp. (Youngstown, O.) announced Jan. 17 that Parker will acquire Commercial Intertech for $366 million in cash and stock. Parker will also assume approximately $107 million of Commercial Intertech's debt. The acquisition is expected to close during 2Q00. Commercial Intertech's Hydraulics Business will be integrated with Parker's Hydraulics Group. Parker will manage Commercial Intertech's Building Systems and Metal Forming businesses as separate units.
- Fluke Corp. (Everett, Wa.) announced Jan. 6 its acquisition of the Precision Measurement Division of Wavetek Wandel Goltermann (Research Triangle Park, N.C.; Eningen, Germany). Fluke will maintain the Wavetek Precision Measurement facility in Norwich, U.K., and the division will become part of Fluke Industrial Group's Calibration Business Unit. Both companies expect this acquisition to accelerate shared missions of product development, customer solutions, and service.
- To expand its technology offerings to encompass multiple Microsoft Windows platforms, BSquare Corp. (Bellvue, Wa.) announced Jan. 6 that it has acquired BlueWater Systems Inc. (Edmonds, Wa.) for approximately 260,000 shares of BSquare common stock. BlueWater will move its 11 employees to BSquare's headquarters.
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