04:50 PM EDT, 07/15/2025 (MT Newswires) -- Powell Industries ( POWL ) agreed to acquire Remsdaq, a UK-based manufacturer of remote terminal units, for 12.2 million pounds ($16.3 million).

The deal includes an upfront payment of 9.2 million pounds with the remaining portion contingent upon Remsdaq meeting certain technical and financial milestones, Powell said Tuesday in a statement.

The acquisition supports plans to expand automation platform capabilities and address demand for advanced solutions that improve utility operations, system reliability and security, Houston-based Powell said.

The transaction is expected to close in fiscal Q4, Powell said.