ATI offers intelligent end-of-arm technology solutions to OEMs for advanced industrial and surgical robots
Novanta has agreed to acquire ATI Industrial Automation. (Credit: Gerd Altmann from Pixabay)
Novanta, a technology partner to medical and advanced technology equipment manufacturers, has agreed to acquire US-based ATI Industrial Automation for an upfront cash payment of $172m.
Under the deal, ATI will receive additional contingent cash payments from Novanta based on 2021 financial performance.
Based outside Raleigh, North Carolina, ATI offers intelligent end-of-arm technology solutions to original equipment manufacturers (OEMs) for advanced industrial and surgical robots.
ATI CEO Bob Little said: “We are excited to join Novanta at this stage of our development. We expect the combination of competencies and cultures to create better opportunities for our customers and employees.”
ATI is engaged in the development, manufacturing and selling of products such as robotic changing systems, force/torque sensors, and collision sensors for industrial, collaborative and medical robotic applications.
The company’s products are said to help OEMs and end-users to enhance safety and productivity of their robotic systems.
Established in 1989, the company employs more than 350 employees.
Novanta CEO and chairman Matthijs Glastra said: “ATI is a fantastic business with proprietary intellectual property in attractive and growing markets.
“The business adds intelligent technology solutions and expands Novanta’s position in mission critical robotic applications, such as electric vehicle production, medical robotics, and collaborative robotics.
“In addition, the transaction creates a nearly $250m Precision Motion Segment with significant engineering competency to further accelerate our growth.”
Subject to customary closing conditions including regulatory approvals, the deal is expected to be completed in the third quarter of this year.
Global investment bank Harris Williams is advising ATI on the sale.