- Astec Industries, Inc. ASTE has agreed to acquire Minds Automation Group Inc., a developer of plant automation control systems and cloud-based data management in the asphalt industry. Deal terms were not disclosed.
- British Columbia, Canada-based Minds Automation has locations in the U.S., U.K., France, and Belgium.
- Minds Automation CEO Pierre Vidaillac and the leadership team will stay with Astec and support automation and controls technology advancement.
- Astec held cash and equivalents of $134.4 million as of December 31, 2021.
- Price Action: ASTE shares trading lower by 2.76% at $43.68 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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