Allied Motion Technologies To Acquire Globe Motors For About $90 Mln In Cash

(RTTNews) - Allied Motion Technologies Inc. (AMOT) announced that it has entered into a definitive agreement to acquire all of the outstanding shares of Globe Motors, Inc. from Safran USA, Inc., on a cash free, debt free basis, for about $90 million in cash. The transaction is expected to close within 60 days.

Commenting on Globe Motors, Allied Motion said the company employs more than 500 employees worldwide and is headquartered in Dayton, Ohio with additional operations in Dothan, Alabama, Reynosa, Mexico and Oporto, Portugal. Globe has a well-established and strong industry reputation as a high quality provider of customized and innovative motion solutions to meet the needs of its customers in selected target market segments.