IDEX Corporation (IEX) recently completed the acquisition of Mott Corporation and its subsidiaries (Mott). The transaction is valued at $1 billion (including a $100 million tax benefit). The valuation equates to approximately 19 times Mott's forecasted EBITDA for the full year of 2024 and a multiple in the mid-teens based on the projected EBITDA for 2025. This deal was announced in July 2024. Based in Farmington, CT, Mott is engaged in designing and manufacturing sintered porous metal components and enginee ...

Company Overview - IDEX Biometrics ASA is a global technology leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [2] - The company's biometric solutions are built on patented sensor technologies, integrated circuit designs, and software, targeting card-based applications for payments and digital authentication [2] - IDEX Biometrics partners with leading card manufacturers and technology companies to bring its solutions to market [2] Upcoming Meeting - An extraordinary general meeting will be held on Monday, 23 September 2024, at 12:00 CET as an online meeting, with no physical attendance option [1] - The board proposes that shareholders authorize the issuance of new shares [1] - A notice with the attendance form will be sent to shareholders and is also available in a PDF file [1] Investor Relations - The notice of the annual general meeting and ancillary documents are available on the company's website and can be requested at no charge [2] - For further information, investors can contact Marianne Bøe, Head of Investor Relations, via email or phone [2]

Core Viewpoint - IDEX is facing near-term challenges due to project delays and softness in the industrial market, leading to a 4% decline in organic revenue for Q2 2024. However, the company is expected to recover in the second half of the year, and a 'Buy' rating is reiterated with a price target of $220 per share [1][15]. Group 1: Financial Performance - IDEX reported a 4% decline in organic revenue for Q2 2024, with orders growing by 2% [3][8]. - The company has lowered its full-year guidance for both revenue and EPS due to market softness [8][9]. - The projected organic revenue decline for FY24 is estimated at 2%, with expectations of a 6.2% growth from FY25 onwards [11]. Group 2: Acquisition and Divestiture - IDEX announced the acquisition of Mott Corporation for $1 billion, expected to close by Q3 FY24. This acquisition is anticipated to enhance IDEX's applied material science technology and improve overall margin profiles [2]. - The purchase price for Mott represents a mid-teens multiple based on 2025's forecasted EBITDA, indicating a reasonable valuation [2]. - IDEX divested Alfa Valvole for $45.5 million, which was deemed a low-growth company, optimizing the overall portfolio [2]. Group 3: Market Conditions - Project delays are attributed to the upcoming U.S. election and overall softness in the industrial market, impacting revenue growth [3][7]. - The life science and analytical instrumentation markets are facing growth challenges due to inventory destocking and a tight capital funding environment [7]. - The overall non-residential construction project delays were high in the first half of 2024, but the stress index showed improvement in July [5]. Group 4: Future Outlook - IDEX anticipates stable growth in the Fire & Safety/Diversified Products segment, projecting a 3% organic revenue growth for FY24 [10]. - The company estimates a 30 basis points margin expansion driven by new product offerings and operational efficiencies [12]. - The fair value of IDEX's stock price is calculated to be $220 per share, based on a WACC of 8% [13].

A month has gone by since the last earnings report for Idex (IEX) . Shares have added about 4.5% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Idex due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. IDEX Q2 Earnings Top Estimates, Sales Miss,'24 View Down IDEX's sec ...

Reference is made to the notice on 29 August 2024 regarding settlement of a term payment on a convertible loan by issue of 9,123,333 shares at NOK 0.60 per share. The share capital has been registered and the shares will be delivered soonest. Following the issue, the company's share capital is NOK 50,812,483.20 divided into 338,749,888 shares, each with a nominal value of NOK 0.15. For further information contact: Marianne Bøe, Investor Relations E-mail: marianne.boe@idexbiometrics.com Tel: +47 918 00186 Ab ...

The board of directors of IDEX Biometrics ASA has resolved to issue 1,500,000 incentive subscription rights (SRs) to the CEO of the IDEX Biometrics group. The grant was made under the company's 2024 incentive subscription rights plan as resolved at the annual general meeting on 16 May 2024. The exercise price of the SRs is NOK 0.93 per share. The SRs vest by 25% per year over four years and expire on 16 May 2029. Following this grant there are 28,729,855 incentive subscription rights outstanding in IDEX Bio ...

Oslo, Norway, 28 August 2024 – IDEX Biometrics is bringing biometric authentication onto payment cards for the Indian market, together with a worldwide leader in payment services. India boasts more than 1 billion payment cards in circulation and has been a frontrunner in biometrics for many years. Live user experience and technology testing for the IDEX Pay biometric payment cards has been conducted with our Indian payment service partner, giving excellent results, and proving that biometric payment cards c ...

Reference is made to the notice on 20 August 2024 regarding a private placement of 16.2 million shares at NOK 0.60 per share. The share capital has been registered and the shares will be delivered soonest. Following the issue, the company's share capital is NOK 49,443,983.25 divided into 329,626,555 shares, each with a nominal value of NOK 0.15. As of today, 326,722,294 shares are tradeable. 2,904,261 shares are issued on a separate ISIN and will be tradeable upon approval of a listing prospectus. For furth ...

Oslo, Norway – 26 August 2024 – IDEX Biometrics has reached an important milestone for IDEX Pay by successfully passing Visa's certification using Visa's latest VBSS(*) biometric payment application. The IDEX Pay biometric solution includes the IDEX Biometrics proprietary card operating system and latest technology fingerprint sensor with Infineon's high performing SLC38 secure element. The Visa certification is the ultimate result of comprehensive biometric performance testing and ensures that payment's sc ...

Reference is made to IDEX Biometrics ASA's disclosure today of a private placement of shares. IDEX Biometrics discloses the following information on behalf of a primary insider. IDEX Biometrics CEO, Catharina Eklof, subscribed to 666,666 shares, ISIN NO0013107490, at NOK 0.60 per share. Contact person Marianne Bøe, Head of Investor Relations E-mail: marianne.boe@idexbiometrics.com Tel: +47 9180 0186 About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics ...