Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Allied Motion Acquires Spectrum Controls For $70M

  • Allied Motion Technologies Inc. (NASDAQ:AMOT) has acquired Spectrum Controls, Inc. for $70 million, of which $45 million was paid with a combination of $27 million in cash and the remainder in shares at $35.82 per share.
  • The remaining $25 million will be paid in two equal payments in 2022 and 2023, comprised of 50% cash and 50% stock.
  • Bellevue, Washington-based Spectrum manufactures various Industrial I/O and Universal Communications Gateway products. With approximately 72 employees, Spectrum serves industrial automation projects and specialty applications.
  • Allied Motion expects Spectrum to be accretive to its EPS and gross margin profile in 2022.
  • The company held cash and cash equivalents of $19.2 million as of September 30, 2021.
  • Price Action: AMOT shares are trading higher by 4.73% at $36.94 on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Former Texas Roadhouse worker calls out the outlet for ‘scooping out’ a bug from their cinnamon butter, but people noticed something even worse
Everyone has seen the viral videos of secret menu hacks or behind-the-scenes kitchen tours. But one former Texas Roadhouse server’s “throwback” TikTok of a bug in cinnamon butter is a literal nightmare. People with a fear of bugs, you might want to sit this one out.
The Mary Sue
The Mary Sue
From YouTuber to NASCAR driver: Cleetus McFarland expands his racing resume at Daytona
Garrett Mitchell is better known as “Cleetus McFarland” to his millions of followers gained over the years as a racing influencer
The Independent UK
The Independent UK
Woman orders wedding dress from Dior. Then she sees the box it came in. People are alarmed at the reveal: ‘I thought that was a fridge’
Forget butterflies and happy tears. This Dior bride’s big moment arrived looking less like couture and more like a Home Depot delivery. In a now-viral TikTok, handymen lug a massive wooden crate into her house–except it’s the kind you’d expect to hold a fridge, not a frock.
The Mary Sue
The Mary Sue
8 Signs Your Healthy Southern Diet is Actually Causing Inflammation
Traditional Southern flavors often rely on fresh produce and lean proteins, but common preparation methods can unintentionally trigger inflammation. While many believe they are following a wholesome regional diet, specific dietary habits might be working against health goals. Identifying these subtle shifts in nutrition can help restore balance and improve…
Budget and the Bees
Budget and the Bees
The science behind the trend for showering in the dark before bed
The latest wellness trend and “sleep hack” involves switching off the bathroom light before stepping into the shower. In the dimness, the water feels louder, the day’s visual clutter fades and the hope is that sleep will come more easily. This practice, often called “dark showering”, has spread on social…
The Conversation
The Conversation
Country singer reveals horrific hate comment from follower amid incurable cancer diagnosis
Nat Myers first revealed his cancer diagnosis last year
The Independent UK
The Independent UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play