Data Measurement Corp., a Gaithersburg-based manufacturer of computerized measuring instruments for the steel industry, has been purchased for $25 million by Measurex Corp. of Cupertino, Calif.
The purchase, which amounts to about $18.63 a share, has been in the works for about two months. Measurex, which has more than 2,000 employees, makes electronic measuring instruments mostly for the paper industry.
Frederick Rolandi, chief financial officer for Data Measurement, said the company's 265 jobs would not be affected by the merger.
The company would be operated as an independent subsidiary of Measurex, and all of its jobs would remain in Maryland, he said.
In fact, said Mr. Rolandi, the sale should result in eventual job growth at Data Measurement because Measurex is expected to transfer what business it has serving the steel industry to Data Measurement.
"This is diversification for them, and it brings an industry leader behind us so that we can grow," said Mr. Rolandi.
The deal, subject to approval, is considered by analysts as part of Measurex's strategy to expand its business.