Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or the “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, announced today that it has acquired ALIO Industries (“ALIO”), an innovator and manufacturer of advanced linear and rotary motion systems for nano-precision applications. The purchase price of $20 million consisted of $15 million in cash and $5 million in Allied common stock. Additionally, there are potential earn-out payments over the next 3 years based upon ALIO achieving certain annual EBITDA targets.
“ALIO is well recognized for their technology/know-how and expertise in nanometer level positioning, and we are very excited to add such high precision positioning and robotic technology solutions to our already powerful portfolio of motion solution offerings. Equally important is ALIO’s culture and passion for innovation, customer service and product quality, all traits that align well with what we have built at Allied. We expect that the business can grow rapidly as we leverage our joint channels to market and bring scale to their operations,” commented Dick Warzala, Chairman and CEO.
Founded in 2001 and headquartered in Arvada, CO, ALIO designs, engineers, and manufactures nano technology motion systems for state-of-the-art applications in silicon photonics, micro assembly, digital pathology, genome sequencing, laser processing and microelectronics. Their expansive product line includes the patented Hybrid Hexapod®, which provides for 6 axis point precision repeatability, air bearing systems, linear and rotary nano-precision systems (with both mechanical and air bearings guides), and systems customized for atmospheric, clean room, and ultra-high vacuum environments.
Bill Hennessey, President of ALIO, stated, “Joining with the Allied team creates a solid foundation and a great complementary combination to generate accelerated growth in the future. We embrace the One Allied culture and on behalf of our entire company, we look forward to a great partnership moving forward”.
Source: Allied Motion Technologies.