Allied Motion Technologies, Inc. (NASDAQ: AMOT) has acquired ALIO Industries, an innovator and manufacturer of advanced linear and rotary motion systems for nano-precision applications, for $20 million.
The purchase price consists of $15 million in cash and $5 million in Allied common stock. The deal also includes potential earn-out payments over the next three years based upon ALIO achieving specific annual EBITDA targets.
Arvada, Colorado-based ALIO is an innovator and manufacturer of advanced linear and rotary motion systems for nano-precision applications.
Allied Motion held cash and equivalents of .2 million as of September 30, 2021.
Yesterday, Allied Motion reported its Q3 results, with EPS of $0.41, beating the $0.31 estimate, and revenue of $103.51 million, surpassing the consensus of $102.57 million.
Price Action: AMOT shares are trading higher by 13.1% at $41.73 on the last check Thursday.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.