Novanta to acquire Motion Solutions for $189M cash; expected close Q1 2024

NOVANTA INC

Purchase price $189M in cash, financed with cash on hand and revolving credit facility.
Motion Solutions expected to generate ~$85M revenue in 2023; employs over 110 in Irvine, CA.
Acquisition expands Novanta's position in spatial biology, genomics, proteomics, medical robotics, and lab automation.
Closing subject to HSR antitrust waiting period, expected Q1 2024.
Conference call on Nov 14, 2023 at 5:00 p.m. ET to discuss the transaction.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOVANTA INC entered into Securities Purchase Agreement with Motion Solutions Holdings LLC and Motion Solutions Parent Corp. valued at $189.0 million (effective 2023-11-14).

Action: entry
Agreement: asset purchase
Counterparty: Motion Solutions Holdings LLC and Motion Solutions Parent Corp.
Value: $189.0 million
Effective: 2023-11-14

Exact text from the filing

On November 14, 2023, Novanta Corporation (the “Buyer”), a wholly-owned subsidiary of Novanta Inc. (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Motion Solutions Holdings LLC (the “Seller”) and Motion Solutions Parent Corp. (“Motion Solutions”).

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NOVANTA INC filing history →

Source: SEC EDGAR

accession 0000950170-23-063728

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