Tuesday, July 7, 2015

2 Philly firms buy Euro plants: QlikTech, Triumph

QlikTech buys NComVA, Triumph buys Precision Castparts' Primus

2 Philly firms buy Euro plants: QlikTech, Triumph

0 comments
Travel Deals

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.

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
Also on Philly.com:
letter icon Newsletter