Lincoln Electric Acquires RedViking; RedViking's Annual Revenue Is ~$70M, Their Results Will Be Reported In The Americas Welding Segment; Terms Of The Transaction Were Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has acquired RedViking, a Michigan-based automation system integrator specializing in AGVs, mobile robots, custom assembly, dynamic test systems, and MES software. RedViking, with an annual revenue of ~$70M, will be integrated into Lincoln Electric's Americas Welding Segment. This acquisition enhances Lincoln Electric's automated material handling and testing solutions, and expands its capabilities in production data and analytic software solutions, particularly serving the aerospace, defense, and transportation sectors.
April 01, 2024 | 8:31 pm
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Lincoln Electric acquires RedViking, enhancing its automation solutions portfolio and expanding its market reach in aerospace, defense, and transportation. RedViking's $70M revenue will now contribute to Lincoln's Americas Welding Segment.
The acquisition of RedViking by Lincoln Electric is likely to have a positive short-term impact on LECO's stock price due to the strategic expansion of its automation solutions portfolio and the addition of RedViking's $70M revenue. This move not only enhances Lincoln Electric's product offerings but also strengthens its position in key industries such as aerospace and defense, which are areas of growing demand. The integration of RedViking's advanced technologies and solutions is expected to provide competitive advantages and potentially increase market share, contributing to positive investor sentiment.
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