Novanta Announces Agreement To Acquire Motion Solutions For Cash Consideration Of $189M
Portfolio Pulse from Benzinga Newsdesk
Novanta Inc. has agreed to acquire Motion Solutions for $189 million in cash. Motion Solutions is a provider of engineered integrated solutions for OEMs in medical, life sciences, and advanced industrial applications. The acquisition is expected to complement Novanta's product portfolio and expand its exposure to OEM customers in various markets. Motion Solutions is anticipated to generate about $85 million in revenue in 2023. The deal will be financed with available cash and credit facility borrowings.
November 14, 2023 | 10:14 pm
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Novanta's acquisition of Motion Solutions for $189M is likely to enhance its product offerings and market presence, with Motion Solutions expected to contribute $85M in revenue for 2023.
The acquisition of Motion Solutions is directly related to Novanta's business expansion and is expected to have a positive impact on its revenue and market presence. The deal is significant as it is financed through cash and credit, indicating a strategic investment for growth. The expected revenue contribution from Motion Solutions is substantial, which could positively influence investor sentiment and Novanta's stock price in the short term.
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