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07/2021

CONCURRENT REAL-TIME acquired by SPECTRIS

UNITED STATES Software / Engineering & Design Software EV 100M - 350M USD

Context

Spectris plc has finalized the acquisition of Concurrent Real-Time from the private equity firm Battery Ventures, a maneuver designed to fundamentally strengthen the group’s Hottinger Brüel & Kjær (HBK) platform. The strategic rationale for this transaction centers on a "simulation-convergence" play, merging the target's technical operational depth in hard-real-time computing with the group’s established leadership in physical sensing and simulation software. This fusion effectively creates a specialized Virtual Test Division, providing the organization with the hardware-in-the-loop (HiL) capabilities required to virtually test products throughout the entire development cycle. This operation allows the group to execute a definitive structural expansion into the high-growth simulation market, complementing its existing specialized assets such as VI-grade. By incorporating the target's deterministic operating systems and high-performance hardware, the organization can now provide a more robust and integrated solution set for "Zero Prototypes" vehicle development. The maneuver optimizes the group's financial profile by adding a high-margin, profitable technology brand that serves as a critical enabler of faster product life cycles. Ultimately, the partnership solidifies the group’s standing as a primary enabler of virtual testing innovation, bridging the gap between sophisticated laboratory-grade simulation and industrialized hardware testing standards.

CONCURRENT REAL-TIME, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Concurrent Real-Time operates as a premier technology organization dedicated to the engineering and distribution of high-performance real-time computational hardware and software. The entity’s business model is centered on a proprietary framework of real-time operating systems (RTOS), specifically its RedHawk Linux platform, which provides deterministic, low-latency performance for mission-critical applications. Its value proposition is anchored in technical operational depth, offering hardware-in-the-loop (HiL) simulation solutions that allow engineers to test complex control systems against virtual environments in real time. Strategically, the firm focuses on the rigorous demands of the aerospace, defense, and automotive sectors, ensuring that simulated data precisely matches physical world dynamics. By maintaining a specialized focus on multi-core multiprocessing and high-speed data acquisition, the organization ensures a vital role in the structural efficiency of advanced vehicle development. The entity prioritizes technical reliability and industrialized scalability to facilitate the structural advancement of virtual prototyping standards.

Ent. Value

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Historical Financials (USD)

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REFERENCES

Valuation range: EV 100M - 350M USD

Revenue range: 25M - 50M USD

EBITDA range: 5M - 25M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CONCURRENT REAL-TIME by SPECTRIS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: concurrent real-time

Acquirer: spectris