189 Million Dollars! This Well-known Laser Listed Company Completed A New Acquisition

Novanta, a US-based provider of optical and precision components, has announced that it has completed the acquisition of Motion Solutions, a provider of highly engineered integrated solutions. According to customary closing conditions, the cash consideration for the transaction was $189 million.
The transaction will expand complementary markets based on Novanta's current line of business, including space biology, genomics, proteomics, medical robotics and laboratory automation.
Headquartered in the U.S. and employing more than 2,700 people worldwide, Novanta is an $800 million global provider of laser photonics, precision motion control and vision technologies serving the global medical device and advanced industrial technology markets as an original equipment manufacturer. And Novanta Photonics, or Novanta Photonics Division, focuses on serving the advanced manufacturing industry as a premium supplier of core laser components and subsystems.
Motion Solutions, on the other hand, works with OEMs in medical, life sciences and advanced industrial applications to design and manufacture high-precision, customized subsystems and components. The company specializes in proprietary precision motion and advanced motion control solutions. The company currently employs more than 110 people.
Matthijs Glastra, Chairman and CEO of Novanta, said, "Motion Solutions is an excellent strategic fit for Novanta, which provides market-leading OEMs with high-precision, customized precision motion Motion Solutions provides high precision, customized precision motion subsystems and components to market-leading OEMs, with a focus on medical and life sciences applications. They are a market-leading organization and their team is passionate about their customers, innovation and solving complex technical challenges."
He added, "With the acquisition of Motion Solutions, we are advancing Novanta's strategy by strengthening our presence in very attractive precision medicine applications that are growing at high single-digit to low double-digit rates, and it creates the potential to develop new and unique intelligent subsystems using our integrated technology offerings . We are very pleased to welcome the Motion Solutions team to Novanta."
Motion Solutions is expected to generate approximately $85 million in revenue in 2023.Novanta noted that the transaction will be financed using available cash and borrowings under its revolving credit facility.
About Novanta
Novanta is a leading global provider of core technology solutions that provide a competitive advantage to medical and advanced industrial original equipment manufacturers. The Company has deep proprietary technical expertise and capabilities in precision medicine and manufacturing, medical solutions, robotics and automation, and a proven ability to solve complex technical challenges. This enables Novanta to design core components and subsystems that deliver extremely high levels of precision and performance, tailored to customers' demanding applications.