Novanta to acquire Motion Solutions for cash consideration of $189M

Novanta announced that it has entered into a definitive agreement to acquire Motion Solutions, a provider of highly engineered integrated solutions, for cash consideration of $189M, subject to customary purchase price adjustments and closing conditions, including applicable regulatory approvals. “Motion Solutions is an exciting business with intelligent subsystem competencies within attractive medical and precision medicine markets,” said Matthijs Glastra, Chair and Chief Executive Officer of 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. In addition, the transaction gives us opportunity to design unique solutions for our mutual OEM customer base combining Novanta’s and Motion Solutions’ capabilities.” Motion Solution is expected to generate approximately $85M in revenue in 2023. The transaction will be financed using available cash and borrowings under the company’s revolving credit facility.