|Rockwell Automation buying Jacobs Automation||| Print ||
|Written by Associated Press|
|Tuesday, 12 November 2013 12:05|
MILWAUKEE (AP) — Industrial equipment and software maker Rockwell Automation is buying Jacobs Automation, which will give customers access to new technology to help them respond quickly to changing market demands.
Financial terms were not disclosed.
Jacobs Automation Inc., based in Erlanger, Ky., is a provider of intelligent track motion control technology. Its iTRAK system is used for packaging, material handling and other applications for the global machine builder market.
Keith Jacobs, president of Jacobs Automation, said in a statement on Tuesday that the iTRAK system provides more flexibility for machine builders.
Jacobs Automation will join Rockwell's motion business within its architecture and software division.
The deal is expected to close in January.
Rockwell Automation Inc.'s stock added 39 cents to $113.08 in morning trading. Last week the company's fourth-quarter adjusted profit and revenue topped analysts' estimates. Its shares have risen 34 percent so far this year.
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