SPX Completes ITL Acquisition

SPX Corporation completed the acquisition of ITL on March 31, 2022, as disclosed in the context of non-GAAP financial adjustments related to inventory step-up charges.

“a non-recurring charge associated with the step-up of inventory (to fair value) acquired in connection with the ITL, Sealite and Sensors & Software acquisitions completed on March 31, 2022, April 19, 2021 and November 11, 2020, respectively”

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