Market Overview

Applied Industrial Technologies Will Acquire Olympus Controls

Share:

Applied Industrial Technologies (NYSE: AIT) has signed a definitive agreement to acquire Olympus Controls Corp for an undisclosed amount.

The deal is expected to close before the end of August. Olympus Controls is an automation services provider – including design, assembly, integration, and distribution – of motion control, machine vision, and robotic technologies.

“Olympus brings to Applied a full range of value-added automation expertise, with leading technology solutions, an established geographic footprint, and strong supplier partnerships,” said Neil Schrimsher CEO for Applied. “Their addition is a strong complement to our business, further broadening our capabilities, customer opportunities and technical presence across varied industrial segments.”

Applied Industrial Technologies shares were trading down 3.2% to $52.06 at time of publication. The stock has a 52-week high of $82.35 and a 52-week low of $49.45.

Related Links:

Presidio To Be Acquired By BC Partners For $2.1B

CIT Buys Mutual Of Omaha For $1B

 

Related Articles (AIT)

View Comments and Join the Discussion!

Posted-In: M&A News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com