Amherst, New York, November 4, 2021--(BUSINESS WIRE)--Allied Motion Technologies Inc. (NASDAQ: AMOT) ("Allied Motion" or "Company"), a Designers and manufacturers of precision and professional control motion products, as well as solutions for the global market, today announced the acquisition of ALIO Industries ("ALIO"), an innovator that provides advanced linear and rotary motion systems for nano-precision applications And manufacturer. The $20 million purchase price includes $15 million in cash and $5 million in Allied common stock. In addition, based on ALIO's achievement of certain annual EBITDA targets, there may be income payments in the next 3 years.
"ALIO is widely recognized for its technology/knowledge and expertise in nano-level positioning, and we are pleased to add such high-precision positioning and robotics solutions to our already strong portfolio of motion solutions. Equally important It’s ALIO’s culture and passion for innovation, customer service, and product quality. All of these characteristics are very consistent with what we have built at Allied. We hope that as we use our joint channels to enter the market and expand their operations, The business can grow rapidly," commented Dick Warzala, Chairman and CEO.
Founded in 2001 and headquartered in Arvada, Colorado, ALIO designs, designs, and manufactures nanotechnology motion systems for the most advanced applications in silicon photonics, microassembly, digital pathology, genome sequencing, laser processing, and microelectronics. Their extensive product line includes the patented Hybrid Hexapod®, which provides 6-axis point accuracy repeatability, air bearing systems, linear and rotary nano-precision systems (with mechanical and air bearing guides), as well as custom-made products for the atmosphere and clean rooms System, and ultra-high vacuum environment.
ALIO President Bill Hennessey said: "Joining the Allied team has laid a solid foundation and a good complementary combination for future accelerated growth. We embrace the One Allied culture and represent our entire company looking forward to a great partnership that moves forward."
About Allied Motion Technologies Inc.
Allied Motion (NASDAQ: AMOT) designs, manufactures and sells precision and professional controlled motion products and solutions for a wide range of industries in our main service markets, including vehicles, medical, aerospace and defense, and industry. The company is headquartered in Amherst, New York, with operations all over the world, with products sold to markets in the United States, Canada, South America, Europe and the Asia-Pacific region.
Allied Motion focuses on controlled motion applications and is well-known worldwide for its expertise in electromagnetic, mechanical and electronic motion technologies. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor drives, gear motors, gears, modular digital servo drives, motion controllers, incremental and absolute optics Encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, and other controlled motion related products.
The company’s growth strategy focuses on developing integrated sophisticated solutions by leveraging its "technology/expertise", using multiple Allied Motion technologies to "change the rules of the game" and create higher-value solutions for the following target markets, becoming its selected target The market leader in controlled motion solutions. Its customers. The company often publishes news and other important information on its website www.alliedmotion.com.
Statements in this press release related to future plans, events, or performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, any possible predictions, predictions, indications or implications of future results, performance or achievements. Examples of forward-looking statements include, among other things, statements made by the company regarding its ability to realize the potential benefits of the ALIO acquisition and its ability to successfully integrate its business; expected growth rates and capture market opportunities. Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based solely on the company’s current beliefs, expectations and assumptions about the company’s business future, future plans and strategies, forecasts, anticipated events and trends, the economy and other future conditions. Because forward-looking statements are related to the future, they are subject to many inherent uncertainties, risks and changes in circumstances that are difficult to predict and are beyond the control of the company. The company's actual performance and financial conditions may differ materially from those shown in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that may cause our actual results and financial conditions to differ materially from those described in the forward-looking statements include (among other things) general economic and business conditions, conditions affecting the company and its subsidiaries’ services, and impact on the company’s business The status of customers and suppliers, competitors’ reactions to the company’s products and services, the overall market acceptance of such products and services, the speed of booking relative to shipments, the ability to open up new markets and geographic regions, and the ability to obtain new business Success, the impact of changes in income tax rates or policies, the severity, scale and duration of the COVID-19 pandemic, including the pandemic and the response of businesses and governments to the pandemic, to our operations and personnel and business activities and to us and our customers Business and the needs of the global supply chain; we cannot predict the extent to which the COVID-19 pandemic and related effects will continue to affect our business operations, financial performance, operating results, financial conditions, the price of our securities, and our strategic goals The adverse effects of the realization of and other factors are disclosed in the company's periodic reports submitted to the US Securities and Exchange Commission. Any forward-looking statements are only effective from the date they are made. Over time, new risks and uncertainties will emerge, and we cannot predict the occurrence of these events or how they may affect us. The company has no obligation or intention to publicly release any revisions to any forward-looking statements, whether due to new information, future events or other reasons.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20211104005802/en/
Investor: Deborah K. Pawlowski Kei Advisors LLC Tel: 716-843-3908 Email: dpawlowski@keiadvisors.com
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