Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied” or the “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, announced today that it has acquired ORMEC Systems Corp. (“ORMEC”), a developer and manufacturer of mission critical electro-mechanical automation solutions and motion control products including multi-axis controls, electronic drives and actuators for the automation and aerospace industries. The acquisition is expected to be accretive to both EPS and the gross margin profile of Allied.
“ORMEC is an excellent bolt on acquisition that strengthens our technical expertise and adds a higher level of precision motion control systems and solutions to our offerings. In addition to its products, ORMEC designs and manufactures complete electro-mechanical and software solutions for custom automation applications. We are very excited to add such a highly experienced and capable team to Allied. We look forward to a bright future together as we expand the joint business potential by increasing our scale and ability to support new applications.” commented Dick Warzala, Chairman and CEO of Allied.
Founded in 1982 and headquartered in Rochester, NY, ORMEC provides automated motion control systems that integrate motion controllers, logic control, servo drives, servo motors, linear motors, actuators, HMIs and I/O. Dr. Edward Krasnicki, who has been president and CEO of ORMEC for the past 19 years, will continue to lead the company under Allied.
Dr. Krasnicki stated, “Joining with the Allied team provides additional talent and capabilities for ORMEC to enable us to scale more rapidly and compete more effectively. We believe our electronic, software and mechanical engineering expertise that creates high value electro-mechanical solutions, when combined with the One Allied approach to providing controlled motion system solutions to its customers, creates an excellent foundation from which to further expand our market reach.”
Terms of the deal were not disclosed.
About Allied Motion Technologies Inc.
Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision and specialty-controlled motion products and solutions used in a broad range of industries within our major served markets, which include Vehicle, Medical, Aerospace & Defense, and Industrial. Headquartered in Amherst, NY, the Company has global operations and sells into markets across the United States, Canada, South America, Europe and Asia-Pacific.
Allied Motion is focused on controlled motion applications and is known worldwide for its expertise in electro-magnetic, mechanical and electronic motion technology. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gear motors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, and other controlled motion-related products.
The Company’s growth strategy is focused on being the controlled motion solutions leader in its selected target markets by leveraging its “technology/know how” to develop integrated precision solutions that utilize multiple Allied Motion technologies to “change the game” and create higher value solutions for its customers. The Company routinely posts news and other important information on its website at www.alliedmotion.com.
Safe Harbor Statement
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Deborah K. Pawlowski
Kei Advisors LLC