XRF Scientific Expands with Labfit Acquisition

XRF Scientific Limited (AU:XRF) has released an update.

XRF Scientific Limited has announced its acquisition of Labfit Pty Ltd, a manufacturer of analytical equipment, aiming to enhance its product portfolio with Labfit’s complementary offerings. This strategic move is expected to leverage XRF’s distribution network and manufacturing capacity, potentially escalating Labfit’s revenue and diversifying XRF’s market presence into sectors like mining and agriculture. The acquisition is valued at $1.16 million, with a potential earnout based on Labfit’s future revenue growth.

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