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United States : OMRON to buy Adept Technology
Publish Date : 19-Sep-2015
A world leader in the field of automation based on its core sensing and control technology, OMRON Corporation, has entered a deal to acquire Adept Technology, Inc, a world leading provider of intelligent robots, autonomous mobile robot solutions and services.
OMRON said it will buy all of the outstanding stock of Adept common shares through an all cash tender offer followed by a second-step merger.
OMRON will offer Adept investors $13.00 per stock of Adept common shares, which accounts for a 63% premium over the closing price for Adept's common shares on September 15, 2015. This values Adept at nearly $200 million. OMRON will finance the tender offer through cash on hand.
The tender offer would start or about September 23, 2015, and the deal would close on or about October 22, 2015. OMRON Industrial Automation Business Company President, Yutaka Miyanaga. said, "We are delighted Adept Technology, a world leader in robotics, has agreed to join OMRON. This acquisition is part of our strategy to enhance our automation technology and position us for long term growth. Robotics will elevate our offering of advanced automation."
President and Chief Executive Officer of Adept, Rob Cain, added, "We are excited about the opportunity to join OMRON, a global leader in automation. Together, our products will offer new innovative solutions to customers all around the globe."
