HMS Networks AB

HMS Networks finalized the acquisition of Red Lion Controls from Spectris Group, creating a combined entity with 1,200 employees in 18 countries. The deal was announced on December 11, 2023, and approved by April 2, 2024.

HMS Networks AB has entered into a binding agreement to acquire Red Lion Controls, a US-based provider of industrial automation solutions, from Spectris Group Holdings for $345 million in cash. The acquisition will significantly expand HMS' presence in North America.

HMS Industrial Networks AB, a subsidiary of HMS Networks AB, acquired 60% of shares in Spanish company Owasys Advanced Wireless Devices S.L., which designs and manufactures wireless communication products for utility vehicles and industrial machines.