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Rockwell Automation (NYSE: ROK) today announced that it has agreed to purchase MagneMotion, a leading manufacturer of intelligent conveying systems. MagneMotion systems are used across a broad range of industrial applications including automotive and general assembly, packaging and material handling. This acquisition will complement Rockwell Automation's iTRAK to create the broadest portfolio of independent cart solutions in this emerging technology area.
"This acquisition continues our strategy to build a portfolio of smart manufacturing technologies that brings next generation performance to our customers today," said Marco Wishart, vice president and general manager of Rockwell Automation's motion control business. "MagneMotion expands our existing capabilities in independent cart technology. Our recent acquisition of Jacobs Automation and its iTRAK technology is complementary to MagneMotion's portfolio. We see a future where the transportation of products within the factory, whether inside of a particular machine or between machines, will be fully controlled to optimize the productivity and flexibility of the entire process."
"This deal is the logical next step in the evolution of our business, and a welcome development for MagneMotion," said Todd Weber, president and CEO of MagneMotion. "Rockwell Automation's leading position in plant-wide controls and industrial automation gives us the best opportunity to introduce this technology to customers. As the market continues to realize the benefits of applying independent cart technology, Rockwell Automation's global organization will be a tremendous asset."
MagneMotion, based in Devens, Mass., will be integrated into Rockwell Automation's motion business, within its Architecture & Software segment. The acquisition is expected to close this quarter.
Rockwell Automation Inc. (NYSE: ROK), the world's largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs over 22,000 people serving customers in more than 80 countries.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160210005730/en/
Rockwell Automation Contacts:
Patrick Goris
Vice President, Finance and Investor Relations
414-382-8510
ppgoris@ra.rockwell.com
or
Keith Lester
Public Relations Manager
414-382-4871 (o)
414-406-8882 (m)
klester@ra.rockwell.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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