Astec Agrees To Acquire Minds Automation For Undisclosed Sum

by Akanksha Bakshi, Benzinga Editor
March 23, 2022 1:36 PM | 1 min read | Make a Comment
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  • Astec Industries, Inc. ASTE has agreed to acquire Minds Automation Group Inc., a developer of plant automation control systems and cloud-based data management in the asphalt industry. Deal terms were not disclosed.
  • British Columbia, Canada-based Minds Automation has locations in the U.S., U.K., France, and Belgium.
  • Minds Automation CEO Pierre Vidaillac and the leadership team will stay with Astec and support automation and controls technology advancement.
  • Astec held cash and equivalents of $134.4 million as of December 31, 2021.
  • Price Action: ASTE shares trading lower by 2.76% at $43.68 on the last check Wednesday.
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