Omron purchases Adept Technology for $200m
Omron has entered into an agreement to acquire robotics company Adept Technology for approximately $200 million. The transaction, expected to close around 22 October, will augment Omron’s automation products with robotics technology.
Omron will offer Adept investors $13.00 per share of Adept common stock, valuing Adept at approximately $200 million.
Commenting on the acquisition, Yutaka Miyanaga, Omron Industrial Automation business company president, 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.’
According to an International Federation of Robotics (IFR) survey, more than 225,000 robots were newly installed in 2014, a rise of 27 per cent compared to the previous year. Installation of robots in Asia increased by 42 per cent, mainly driven by China, while Europe grew just four per cent and North America eight per cent.
By adding Adept’s robotics technology to its current offering, Omron will be very well positioned to provide manufacturers in the automotive, digital device, food and beverage, packaging, and other industries with solutions to the challenges of global manufacturing.
Founded in 1983, Adept recorded annual sales of $54.2 million and gross margin of 42.0 per cent in the fiscal year ended 30 June 2015. The company’s intelligent automation product lines include autonomous mobile robots, industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, as well as machine vision systems and software. Adept’s strategy is to provide a broad range of highly reliable integrated products along with world-class service to allow manufacturers to maximise productivity, safety, flexibility and product quality.
This acquisition is a part of the acceleration of Omron’s ILO+S (Input, Logic, Output and Safety) strategy for its Industrial Automation Business, which provides automation solutions for the manufacturing industries.
Following the transaction, Rob Cain, president and CEO of Adept, will continue to lead Adept and will report to Nigel Blakeway, chairman, CEO and president of Omron Management Center of America, Inc., Omron’s wholly owned US subsidiary.