SPX Corp. announced it has entered into a definitive agreement to purchase CUES Inc., a manufacturer of pipeline inspection and rehabilitation equipment, for $189 million.

A subsidiary of SPX will be merged with CUES’ parent company, ELXSI Corp. Stockholders of ELXSI will receive cash consideration equal to $51 per share, or a total of approximately $189 million.

“We are very excited about welcoming CUES to the SPX team,” said SPX Chief Executive Officer Gene Lowe in a statement. “CUES’ leading brand and technology in the pipe inspection equipment market add a highly complementary solution to our radiodetection business and bring another market-leading product portfolio to our detection and measurement segment.”

The sale is expected to close sometime during the company’s second quarter.

SPX said that the acquisition would be slightly accretive to its earnings this year. The company is currently projecting earning per share between $2.03 and $2.18.

The news of the pending transaction comes just two months after SPX’s purchase announcement of Schondstedt Instrument Co., a underground utility and magnetic location product manufacturer.

Charlotte-based SPX provides infrastructure equipment and has operations in 15 countries. It has annual revenue of $1.5 billion.

ELXSI had revenue of $90 million in 2017.

SPX’s shares rose 54 cents, or 1.7 percent, to $32.69 in Monday trading.