HAMPTON, Va., Oct. 3, 2011 (GLOBE NEWSWIRE) -- Measurement Specialties, Inc. (Nasdaq:MEAS) (the \"Company\"), a global designer and manufacturer of sensors and sensor-based systems, announced today that they have completed the acquisition of Celesco Transducer Products Inc, a leader in the design and manufacture of cable extension transducers and rotary encoders, from Tedea-Technological Automation and Development, Ltd . The acquisition closed September 30, 2011.

Frank Guidone, Company CEO, commented, \"Celesco is the leading provider of cable extension \'string pots\' to the mobile hydraulic/off-road, medical and test & measurement markets. We have long sought to add a competitive long stroke position technology to the portfolio, and we are thrilled with the addition of Celesco to the MEAS family.\" 

The Company acquired the capital stock of Celesco for $35 million, or approximately 6 times trailing 12 month EBITDA. The Company expects the transaction will contribute approximately $15 million to incremental annual sales. 

Jim Bishop, Celesco GM, commented, \"We are excited about the opportunity to leverage the MEAS customer base to extend our OEM sales. Celesco\'s quick-response capabilities and commitment to supply semi-custom and custom solutions fits well with MEAS and has been the key to strong growth. The strategic and operational synergies will benefit both companies, making this an ideal combination.\" 

More information please visit http://www.meas-spec.com/news/acquisition-celesco.aspx or contact  Mr. Rocky Huang at Seraphim,Taiwan distributor of MEAS, tel: 26984540 ext. 242 or email to rockyhuang@seraphim.com.tw

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