Spectris plc, the precision instrumentation and controls company, announced that it has entered into an option agreement with Eurotech S.p.A. for the sale of its Arcom Control Systems business (“Arcom”).

The agreement gives Eurotech an option to acquire Arcom within a period of 60 days. In consideration for the option, Eurotech has paid to Spectris the sum of US$2 million as an assurance that, subject to the verification of certain financial information, Eurotech will complete the acquisition.

The total consideration will be US$26 million on a debt-free basis, payable by Eurotech on completion (less the sum of US$2 million referred to above).