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Slide #95. Allied Motion Technologies Inc — Globe Motors, Inc.
Allied Motion Technologies Inc (NASDAQ:AMOT)
Globe Motors, Inc.
Allied Motion Technologies Inc. (NASDAQ:AMOT) announced today that, effective Friday, October 18, 2013, it completed the acquisition of Globe Motors, Inc. from Safran USA, Inc., on a cash free, debt free basis, for approximately $90 million in cash.
Allied Motion Technologies designs, manufactures and sells precision and specialty controlled motion components and systems used in a range of industries. Co.'s target markets include Vehicle, Medical, Aerospace and Defense, and Industrial. Co. is focused on electro-magnetic, mechanical and electronic motion technology. Co.'s products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active and passive filters for power quality and harmonic issues, and other controlled motion-related products.
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Strong Buy (3.50 out of 4)