Adept Technology, Inc. (ADEP) Acquires InMoTx to Enhance Goal of Quality Offerings

QualityStocks would like to highlight Adept Technology (NASDAQ: ADEP), a global, leading provider of intelligent robots and autonomous mobile solutions and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing, and logistical processes.

In the company’s news yesterday,

Adept Technology announced that it has entered into a $4.3 million agreement to acquire privately held InMoTx, a provider of industry leading technology for the global food processing market.

John Dulchinos, president and CEO of Adept, said the acquisition enhances Adept’s goal to provide quality products, as well as improves the transportation of those goods.

“With this acquisition Adept continues to execute on its mission to deliver exceptional value to clients requiring superior levels of flexibility, cleanliness and robustness from primary packaging automation,” Dulchinos stated in the press release. “As was the case with Adept’s acquisition of MobileRobots, this transaction furthers Adept’s strategy to more efficiently transport goods, particularly those in regulated industries, throughout a facility by strengthening the company’s ability to automate the handling of products safely and reliably while offering traceability.”

InMoTx has positioned itself in the food processing markets where it says flexible automation has been absent, though needed, in the handling of organic products due to the challenges associated with acquiring natural products. InMoTx’s technology provides tools to improve efficiency, flexibility and safety required by producers, consumers and government agencies.

“Becoming a part of Adept’s exacting pursuit of the high-speed packaging market and leveraging their resources and international support infrastructure along with tighter integration of our engineering teams, will accelerate the adoption of InMoTx’ technology and deep portfolio of products dedicated to the handling of natural products,” Preben Hjornet, founder and chief technology officer of InMoTx stated. “In evaluating numerous vehicles to accelerate the expansion of our business, it was immediately apparent that Adept and InMoTx exhibit synergies across the businesses and cultures of strong customer focus.”

Once the acquisition is complete, InMoTx Denmark employees will become part of Adept’s team, working together with Adept’s existing engineering, operations and service teams in Pleasanton, Calif., Dortmund, Germany, and Singapore. InMoTx’s U.S. operations will be consolidated into the Adept Pleasanton, Calif., headquarters.

Per the agreement, Adept will acquire InMotx in a cash and stock transaction valued at up to $4.3 million, which includes $1.5 million in cash, subject to adjustment, 200,000 shares of Adept common stock and earn-out provisions based upon the revenues of the acquired business and related products over the three years following the acquisition.

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