03:34 AM EDT, 07/11/2024 (MT Newswires) -- Rand Capital ( RAND ) said Wednesday it has agreed to sell SciAps to the UK's Spectris for up to $260 million.

The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in 2024.

The private equity firm's sales terms for the scientific equipment maker include $200 million up-front and up to $60 million in payments as SciAps meets certain financial milestones.

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