HOUSTON – Dresser-Rand has signed a definitive agreement to acquire Synchrony Inc. The transaction is expected to close in January 2012.
Synchrony is a technology development company headquartered in Roanoke County, Virginia. The company’s portfolio includes active magnetic bearings, high speed motors and generators, and power electronics for clean, efficient, and reliable rotating machinery.
Under the agreement, Dresser-Rand will acquire Synchrony Inc. for approximately $50 million net of cash acquired. The agreement includes the potential for additional consideration of up to a maximum of $10 million tied to technical milestones and to business performance.