KYOTO, JAPAN – Omron will acquire intelligent robot maker Adept Technology in an all-cash deal worth about $200 million.

The tender offer is expected to commence on or about Sept. 23, and the transaction is expected to close on Oct. 23, subject to customary closing conditions, including Adept shareholder approval and antitrust signoffs. The transaction has been unanimously approved by the boards of both companies.

Founded in 1983, the publicly traded Adept recorded annual sales of $54.2 million and gross margin of 42.0% in the fiscal year ended June 30.

Yutaka Miyanaga, Omron Industrial Automation Business president, called the acquisition "part of our strategy to enhance our automation technology and position us for long term growth. Robotics will elevate our offering of advanced automation.”

Following the transaction, Adept president and CEO Rob Cain will continue to lead Adept, reporting to Nigel Blakeway, chairman, chief executive and president of Omron's wholly owned US States subsidiary.

• Prev
• Next