The Magstim Co. Ltd. agreed to acquire Electrical Geodesics Inc.'s portfolio of brain technologies from Dutch health technology company Royal Philips NV.

Under the agreement, Carmarthenshire, Wales-based Magstim will acquire Electrical Geodesics' hardware, software and sensor nets assets, and will handle global sales, service and support for these products. Royal Philips will provide assistance during the transition until the end of 2020.

Eugene, Oregon-based Electrical Geodesics, which operates as a unit of Royal Philips, provides non-invasive multimodal technologies that can monitor brain activity and deliver transcranial electrical stimulation for brain research.

Lothar Krinke, Group CEO at Magstim, said the acquisition adds high-density electroencephalography, or EEG, to the company's product portfolio and complements its transcranial magnetic stimulation technology. EEG is used in research laboratories and clinics to evaluate the brain's electrical activity.

Transcranial magnetic stimulation has been cleared in the U.S. for the treatment of major depressive disorder.

Magstim will retain Electrical Geodesics' Oregon operations, with support from its global offices in the U.K., the Netherlands and Minneapolis.