Key Highlights
- Novanta Inc. enters a definitive agreement to acquire Motion Solutions for $189 million, enhancing its technology offerings in medical and precision medicine sectors.
- Motion Solutions, renowned for engineering high-precision subsystems, will bring advanced motion control solutions to Novanta’s product portfolio.
- The acquisition is expected to generate approximately $85 million in revenue in 2023, financed through cash and borrowings under Novanta’s revolving credit facility.
Source: Business Wire
Notable Quotes
- “Motion Solutions is an exciting business with intelligent subsystem competencies within attractive medical and precision medicine markets,” – Matthijs Glastra, Chair and CEO at Novanta
- “The business adds complementary motion subsystem solutions to Novanta’s product portfolio, giving us greater exposure to leading OEM customers in markets such as spatial biology, genomics, proteomics, medical robotics, and lab automation.” – Matthijs Glastra, Chair and CEO at Novanta
SoH's Take
This acquisition marks a strategic move for Novanta, further cementing its role as a key technology partner in the medical and advanced technology sectors. The integration of Motion Solutions’ expertise in precision motion and advanced motion control solutions is expected to enhance Novanta’s offerings significantly. This move not only diversifies Novanta’s portfolio but also positions it to capitalize on emerging opportunities in growing fields like spatial biology and medical robotics. The financial outlook, projecting significant revenue generation, indicates confidence in the synergistic benefits of this acquisition. Overall, this deal represents a forward-looking step for Novanta, aligning with its commitment to innovation and customer-centric solutions in high-growth markets.
