Meggitt buys US tech group

Aerospace, defence and energy group Meggitt said yesterday it plans to acquire technology firm Piezotech for $41.2m (£26.5m) on a cash and debt-free basis. Meggitt plans to add the firm, which specialises in ultrasonic technology and has experience in downhole drilling, to its sensing systems division. The group will keep the existing management team at its Indiana and Colorado sites.