A manufacturer of safety equipment plans to bolster its products by acquiring an industrial technology firm for $33 million.
MSA Safety Inc. said the addition of Sierra Monitor Corp. would allow MSA, a suburban Pittsburgh company, to take advantage of cloud computing and wireless technology, as well as enhance its recent investments in software.
Company officials said the agreement “effectively fast-tracks” its recently announced subsidiary’s expansion into applications for fixed gas and flame detection (FGFD) instruments, particularly its portable gas monitors.
“With Sierra Monitor’s extensive IIoT [Industrial Internet of Things] gateway offerings and its recent investments in cloud technology, we can accelerate our own connectivity strategy while also expanding our FGFD product line,” MSA President and CEO Nish Vartanian said in a statement.
Sierra Monitor, based in Silicon Valley, makes fixed gas and flame detection instruments as well as Industrial Internet of Things solutions for “high-value infrastructure assets,” including boiler controls, chillers, lighting controls, and other integrated equipment. Officials said its products are deployed in wastewater facilities, light manufacturing operations, transportation structures, and HVAC applications.
Jeff Brown, the company’s CEO, said in the announcement that the deal would provide “the opportunity to scale our business and expand our reach far beyond the installed base and markets we have access to today.”
The acquisition is expected to close in the second quarter of the year.