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LONDON, UK / ACCESSWIRE / May 7, 2018 / If you want access to our free research report on Novanta Inc. (NASDAQ: NOVT), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NOVT as the Company's latest news hit the wire. On May 03, 2018, the Company announced the acquisition of Cambridge, UK-based Zettlex Holdings Ltd (''Zettlex''). Zettlex is a privately-owned Company that manufactures sensors that measure position or speed, accurately and reliably in harsh conditions. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Novanta plans to integrate Zettlex with its Celera Motion business, which is a leading provider of motion control components and subsystems for original equipment manufacturers (OEMs). Zettlex's products and technologies would greatly add to and complement Celera Motion's existing range of optical encoders, motors, and mechatronics solutions, and at the same time expand its offerings in absolute encoder technology. Darran Kreit and Mark Howard, Founders of Zettlex, plan to continue to manage the Zettlex business even after the completion of the deal.
The financial details and other terms of the agreement were not revealed by any of the Companies.
Sharing his views on the deal, Matthijs Glastra, Chief Executive Officer (CEO) of Novanta, said:
''By combining our commercial resources and application specific competencies with Zettlex's technologies and strong team, Celera Motion can broaden the components and solutions we can provide our customers. We see a growing demand for precision motion technology in robotics, precision automation, and key medical markets, and we're excited to add a complementary technology to our precision motion offerings.''
The official statement from Mark Howard and Dr. Darran Kreit, read:
''Zettlex has grown quickly in recent years and we believe that joining Novanta will enable us to accelerate growth.''
About Zettlex Holdings Ltd
Zettlex is a designer and manufacturer of position and speed sensors that perform in harsh conditions like extreme temperatures, shock, vibration, electromagnetic noise, high speeds, liquid immersion, aggressive chemicals, or potentially explosive environments. Zettlex's products are used in precision motion control systems in advanced industrial and medical markets and applications, including autonomous vehicles; industrial and medical robotics; aerospace and defense; laboratory and diagnostics; imaging and scanning systems; and oil and gas.
Zettlex's sensors use non-contact, inductive technology and printed circuits, making the sensors compact, accurate, lightweight, and provide accurate measurements for a long time. These are position sensors with ‘no contacts, no delicate parts, no maintenance, no hassle'. The Company's sensors are available in various shapes and sizes, including linear, rotary (single & multi-turn), curvi-linear, 2D & 3D, which can also measure tilt, weight, pressure, vibration, strain, and flow. The Company has won the Queen's Award for Innovation in 2017 and for International Trade in 2018. The Company has a global presence with offices in the UK, the US, and Germany, and it exports to over 50 countries. It has a team of approximately 40 employees.
About Celera Motion
Bedford, Massachusetts-based Celera Motion is a Novanta Company and a leading provider of motion control components and subsystems for OEMs serving a variety of medical and advanced industrial markets. The Company supplies a range of precision encoders, motors, and customized mechatronic solutions to solve the challenging motion control problems faced by its customers.
About Novanta Inc.
Bedford, Massachusetts-based Novanta is a leading global supplier of core technology solutions to medical and advanced industrial OEMs. The Company utilizes its deep proprietary technology expertise and competencies in photonics, vision, and precision motion, to solve complex technical challenges. The Company provides customized core components and sub-systems that deliver extreme precision and performance to its customers. The Company has a significant presence across North America, Europe, and the Asia/Pacific region.
Stock Performance Snapshot
May 04, 2018 - At Friday's closing bell, Novanta's stock climbed 2.41%, ending the trading session at $59.50.
Volume traded for the day: 218.82 thousand shares.
Stock performance in the last month - up 13.88%; previous three-month period - up 6.82%; past twelve-month period - up 114.80%; and year-to-date - up 19.00%
After last Friday's close, Novanta's market cap was at $2.01 billion.
Price to Earnings (P/E) ratio was at 36.55.
The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry. This sector was up 1.4% at the end of the session.
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