This morning, two Philadelphia-area companies say they have purchased European operations:
1) Qlik Technologies Inc., Radnor, says it has acquired one of its software suppliers, NComVA AB, a Sweden-based company that develops "advanced visualization technology." QlikTech has used NComVA in its QlikView business-intelligence platform since 2011, the company said. QlikTech chief technology officer Anthony Deighton called NComVA's software apploications "gorgeous" in a statement and said his company will use it to expand its products, which help clients' employees search databases from the field. In its first-quarter 2013 10-Q report, page 11, QlikTech said it will pay a maximum $10.9 million (70.4 million Swedish kronor) for NComVA. QlikTech's founders are from Sweden and the company's R&D labs are in that country.
2) Triumph Group, the Berwyn-based military and civilian jet aircraft parts-maker conglomerate, said it has acquired Primus Conglomerates factories in Farnborough, England and Rayong, Thailand, from Oregon-based Precision Castparts inc., for an undisclosed sum. Triumph says Primus employ s 650 making engine components and assemblies for Airbus, Aircelle, Bombardier and Rolls Royce. In a statement, Triumph CEO Jeffry D. Frisby said Doug Fletcher and other top Primus managers will stay with Triumph, reporting to the compay's Aerostructures group. Precision Castparts, which as of this morning had not posted a note on the deal, had no immediate comment.
This a trend? Has the richly-priced U.S. stock market given American companies the currency to buy more over there? Maybe so, but there's still plenty of profit-starved European capital seeking deals here, says Andrew Greenberg, partner in Philadelphia investment bank Fairmount Capital and in small- and midsized-firm deal tracker GF Data Resources.