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Dunedin-based technology company Scott Technology has completed due diligence in the acquisition of Auckland manufacturer Rocklabs and expects the sale to be unconditional by the end of June.
Rocklabs, which manufactures sample preparation equipment and supplies gold reference materials to the mining industry, employs 35 staff in Onehunga and has 30 salespeople worldwide.
It exports all its production to customers in 98 countries.
Owner Ian Devereux will remain in a management and technical role with Rocklabs, which will be run as a standalone subsidiary with few changes to its operating structure, Scott Technology said.
Scott Technology shares last traded on Thursday and closed at $1.17, after hitting a year-low of $1.15 on Wednesday.
Last October they traded at $2.20.
- NZPA
