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Novanta will acquire privately held ATI Industrial Automation, a supplier of intelligent end-of-arm technology solutions for industrial and surgical robots. The deal is worth $172 million upfront in cash and additional contingent cash payments associated with 2021 financial performance. The transaction is expected to close in the third quarter of 2021.
ATI develops, manufactures, and sells products such as robotic changing systems, force/torque sensors, and collision sensors for industrial, collaborative, and medical robotic applications.
The addition creates a nearly $250 million precision motion segment for the Novanta, company CEO and chairman Matthijs Glastra said in a press release.
“The business adds…READ MORE