Novanta Inc rises on Schneider Electric Motion USA buy

Novanta

12/07/2021 16:37

** Advanced technology equipment manufacturer's shares
 NOVT.O  up as much as ~1.3% at $138.76 
    ** Co to acquire Schneider Electric Motion USA for $115 mln
in cash  urn:newsml:reuters.com:*:nBw5s9m0Ya
    ** The transaction expected to close in Q3 2021, will be
financed using available cash on hand and revolving credit
facility - NOVT
    ** Schneider Electric Motion USA is a manufacturer of motion
control components for automation equipment
    ** Acquisition expected to be accretive to Novanta's free
cash flow and non-GAAP EPS - NOVT
    ** Stock up 16.1% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))