Applied Industrial Bolsters Automation Platform Via Acquisition Of New York-Based Advanced Motion Systems

Applied Industrial Technologies AIT has acquired Advanced Motion Systems Inc. (AMS), a provider of automation products, services, and engineered solutions. Terms were not disclosed.
AMS is based in Rochester, New York, and primarily serves customers across medical, technology, machine building, life sciences, electronics, automotive, and other industrial verticals.
AMS operates with a team of more than 10 associates from two locations.
"We welcome AMS to Applied as we continue the expansion of our automation platform. AMS aligns well with our solutions-centric strategy, acting as a key technical consultant to their customers' emerging automation needs with strong solutions capabilities in machine vision, motion control, and related services. They broaden our footprint in the U.S. Upper Northeast region, including strengthening relationships with leading suppliers tied to our growth strategy," commented Neil A. Schrimsher, President & CEO for Applied.
AIT held cash and equivalents of $165.54 million as of Dec. 31, 2022.
Price Action: AIT shares traded lower by 0.32% at $141.70 on the last check Tuesday.