Novanta Inc. (Nasdaq: NOVT) (“Novanta” or the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that it has finalized a definitive agreement to acquire Motion Solutions, a leading provider of highly engineered integrated solutions.
Motion Solutions is a trusted engineering partner to market-leading original equipment manufacturers (“OEMs”) in medical, life sciences, and advanced industrial applications. Motion Solutions designs and manufactures high-precision, customized subsystems, and components, specializing in proprietary precision motion and advanced motion control solutions. The business has over 110 employees and is headquartered in Irvine, California.
Scott Depenbrock, CEO of Motions Solutions, said, “This acquisition is a testament to the hard work and success our team has achieved together and a clear recognition of the potential that lies ahead. Joining forces with Novanta will enable us to leverage their expertise, resources, and global footprint to enhance our service offerings, innovate further, and expand our market reach. I am confident that together we will reach new heights and continue to significantly impact our customers and the markets they serve.”
“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.”
The acquisition will provide Motion Solutions with increased resources and a broader footprint to expand and enhance its engineering and manufacturing services. The ordering process, key contacts, and accounts payable will remain the same.