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Toronto’s Intelex Technologies acquired by Pittsburgh’s Industrial Scientific for $570-million [Toronto Globe and Mail (Ontario, Canada)]

Magna International, Inc. (MGA) 
Last magna international, inc. earnings: 2/21 05:00 am Check Earnings Report
US:NYSE Investor Relations: magna.com/investors
Toronto’s Intelex Technologies acquired by Pittsburgh’s Industrial Scientific for $570-million For the second time in two weeks, a leading Toronto-based software company in the environmental health, safety and quality audit business has been sold to a U.S. buyer. Pittsburgh-based Industrial Scientific said on Thursday that it had purchased Toronto-based Intelex Technologies for US$57-million. The sale follows last week’s purchase by private-equity giant Thoma Bravo LLC of a control stake in Cority Software Inc., in a deal that valued the firm – a rival to Intelex – at more than $5-million. Both Intelex and Cority are believed to have revenues in the high tens of millions of dollars and were each controlled by private-equity firms prior to the transactions (JMI Equity and HarvourVest Partners LLC bought control of Intelex for $16-million in 215). But the circumstances of the Intelex transaction are very different. Story continues below advertisement Last October, Intelex chief executiv Show less Read more
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