Dresser-Rand purchases Synchrony Inc. for $50mn

Dresser-Rand Group Inc. (NYSE: DRC), a global supplier of high-speed rotating equipment and service solutions, said it closed the previously announced acquisition of 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.

Synchrony is a technology development company with a portfolio of technologies and products including active magnetic bearings (AMB), high speed motors and generators, and power electronics for rotating machinery.

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