The deal will help MSA Safety’s strategy to improve worker safety through cloud technology and wireless connectivity and complements its investments in SaaS applications
Global safety equipment manufacturer MSA Safety Incorporated announced that it has entered into an agreement to acquire Sierra Monitor Corporation – an Industrial Internet of Things (IIoT) solution provider, in an all cash transaction.
The transaction is valued at around US$ 33 million, the company said in a statement.
The deal is likely to be concluded in the second quarter of this year, subject to the customary closing conditions.
The deal will help MSA Safety’s strategy to improve worker safety through cloud technology and wireless connectivity and complements its investments in software-as-a-service (SaaS) applications, such as its subsidiary – Safety io.
In 2018, MSA launched a subsidiary Safety io to focus on leveraging cloud computing and wireless technology to enable connected safety applications and services, including those that involve the use of MSA portable gas monitors.
Expand business and reach
Commenting on the deal, Nish Vartanian, President and CEO, MSA, said, “We’re excited to have the opportunity to add Sierra Monitor to our core product portfolio and we look forward to welcoming the Sierra Monitor team to MSA. Today’s agreement effectively fast tracks the timetable for our Safety io subsidiary to expand into infrastructure applications for our FGFD systems.”
Jeff Brown, CEO of Sierra Monitor, said, “MSA’s leadership position in the safety market and commitment to innovation make it a natural home for Sierra Monitor. By leveraging MSA’s leading edge FGFD product offerings, and software engineering resources and expertise, we have the opportunity to scale our business and expand our reach far beyond the installed base and markets we have access to today.”
Sierra Monitor specialises in providing fixed gas and flame detection (FGFD) instruments and other IIoT solutions that are used to connect and protect high-value infrastructure assets. Sierra Monitor’s technology is typically used in wastewater treatment facilities, transportation infrastructures, light manufacturing and HVAC. The company has annual revenue of around US$ 20 million and a staff of 80 employees.