Novanta Inc, a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that it has completed the acquisition of Motion Solutions.
“Motion Solutions is an excellent strategic fit to Novanta. Motion Solutions offers high-precision, customized precision motion subsystems and components to market-leading OEMs, largely centered on medical and life sciences applications. They are a market leading business, and their team shares a passion for customers, innovation, and solving complex technical challenges,” said Matthijs Glastra, Chair and Chief Executive Officer of Novanta. “By acquiring Motion Solutions, we advance Novanta’s strategy by increasing and strengthening our presence in very attractive precision medicine applications that are growing at high-single-digit to low-double-digit rates, and it creates the potential to develop new and unique intelligent subsystems using our combined technology offerings. We are excited to welcome the Motion Solutions team as they join Novanta.”
Certain statements in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “expect,” “intend,” “anticipate,” “estimate,” “believe,” “future,” “could,” “should,” “plan,” “aim,” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the risks related to Novanta’s ability to realize the anticipated benefits of the acquisition of Motion Solutions, including the possibility that the expected benefits will not be realized or will not be realized within the expected time period; our ability to successfully integrate Motion Solutions; and our ability to implement our plans, forecasts and other expectations with respect to Motion Solutions’ business and realize expected synergies; the effect of the announcement of the transaction on the ability of Motion Solutions to retain and hire key personnel and maintain relationships with its key business partners and customers, and others with whom it does business, or on its operating results and businesses generally; risks associated with the disruption of Motion Solutions management’s attention from ongoing business operations due to the transaction; significant costs associated with the transaction; our expectation that Motion Solutions expands Novanta’s position in medical and life science markets; and other statements that are not historical facts.
SOURCE: Businesswire