Novanta’s Inc., Massachusetts based popular trusted technology partner invested in designing, developing as well as manufacturing motion control components, announced on Monday, July 12, that the company has signed upon an agreement to acquire Schneider Electric Motion USA for a value of $115 million in cash. The transaction is scheduled to close amidst the 2021 third quarter.
Schneider Electric Motion, United states has been a well-known manufacturer of advanced motion control components, and subsystems for automation equipment. The company has been a leader in advanced technology, and innovative motion control solutions specifically targeted towards the application of brushless motor technology along with integrated motor drivers, and electronic controls. Schneider Electric Motion USA was founded back in 1986 in the name of Intelligent Motion Systems (IMS). The company has been developing crucial solutions with the vast utility applications seeking for precise, and controlled movements in the fields of medical instruments coupled with lab automation, robotics, and various other advanced applications.
The business agreement is also expected to enhance Novanta’s scope for exploring Life Sciences, and medical end markets also widening the company’s access to sophisticated automation integrators, commented Matthijs Glastra, Chief Executive Officer, and chairperson at Novanta’s.Combining the SEM’s technology is anticipated to expand the spectrum of company’s precision motion control portfolio, adding to its abilities to satisfy customers with unique, and high-performance solutions.