Rockwell Automation To Acquire Cloud Based Smart Manufacturing Platform Plex Systems For $2.22B

Rockwell Automation Inc ROK agreed to acquire cloud-native innovative manufacturing platform Plex Systems for $2.22 billion in cash.
Plex Systems' subscription-based innovative manufacturing platform accelerates customers' digital transformation and improves visibility into end-to-end production systems with easy-to-deploy, cloud-native solutions.
A combination of cash and short-term and long-term debt will finance the acquisition.
The acquisition is likely to close in Rockwell's Q4.
Plex will be part of Rockwell's Software and Control operating segment.
The acquisition is likely to be immediately accretive to Rockwell's operating margins.
Plex acquisition is likely to accelerate Rockwell's annual recurring revenue goal achievement by two years.
Rockwell will welcome over 500 new employees under the arrangement.
Rockwell held $641.9 million in cash and equivalents as of March 31, 2021. It had $25.6 million in short-term debt and $1.98 billion in long-term debt.
Price action: ROK shares traded higher by 0.03% at $285.60 on the last check Friday.