AstroNova announced that on May 6 it acquired MTEX for a total enterprise value of EUR 24.3M. Additionally, the transaction provides for up to a EUR 4M earnout payable to the seller over three years based on the achievement of specified revenue growth targets. AstroNova expects the transaction to add an additional $8 M to $10M in revenue in this fiscal year. “MTEX NS is a highly innovative manufacturing and technology development company whose multiple lines of industrial grade products significantly expand our Product Identification portfolio. MTEX NS brings multiple complementary market adjacencies while broadening our addressable customer base and geographic reach,” said Greg Woods, AstroNova’s President and Chief Executive Officer. “Recently, MTEX NS introduced a breakthrough printer for direct-to-film DTF transfers that enables printing on a wide variety of materials including fabrics, leather, and hard-surface materials. The acquisition also further expands our sustainable packaging capabilities, such as recycled cardboard printing and environmentally friendly, water-based inks.