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Moog pays $25M for Animatics

Posted: 27 May 2011 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? motion technology? servo motors? linear actuators?

Moog Inc. has acquired Animatics Corp. for $25 million in cash and in stock, as it stands to benefit from the complementation of their product portfolios, marketing activities and distribution networks.

The acquisition was completed through a combination of stock swap and $5 million in cash. Under the stock-swap deal, Moog's 467,749 class "A" shares, with a 30-day average value of $42.76 per share, were used to purchase Animatics' shares. It was unclear, however, if Animatics' shareholders were required to wait for an agreed-upon period of time before they are allowed to sell their new shares of stock.

According to Moog components group president Larry Ball, the acquisition of Animatics "brings several very strong products to (Moog's) motion technology portfolio, as well as a sophisticated distribution network that reaches hundreds of customers worldwide."

Founded in 1987, Animatics is a recognized supplier of SmartMotor servo motors and linear actuators that are used in industrial applications, while Moog supplies the core motor components used in Animatics' SmartMotor product lines.

Animatics' integrated servos, linear actuators and control electronics are used in a variety of industrial, medical and defense applications, including factory automation, flight simulation and camera and weapons stabilization. The products solve a broad array of challenging problems, particularly when multiaxis coordination is essential.

Moog specializes in the design, manufacture and integration of precision-control components and systems. Its high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.

Before its acquisition, Animatics had trailing 12 month revenues of $15 million and its sales revenues for the remainder of Moog's 2011 fiscal year, which ends in October, are projected to be approximately $5 million.

Moog said it does not yet expect the acquisition to boost its share value, nor increase its earnings per share, during the rest of its fiscal year to allow for first-year purchase accounting adjustments.

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