AMOT - Allied Motion Technologies acquires ORMEC Systems

Allied Motion Technologies (NASDAQ:AMOT) has expanded its motion system solution capabilities with the acquisition of Rochester, New York-based ORMEC Systems. Terms of the deal were not disclosed. Founded in 1982, ORMEC provides 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. Edward Krasnicki, who has been President and CEO of ORMEC for the past 19 years, will continue to lead the company under 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

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Allied Motion Technologies acquires ORMEC Systems