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Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, has agreed to acquire Heidrive GmbH, Kelheim, Germany, for €20 million (US$22 million).
Founded in 1938, Heidrive manufactures customized products, including a variety of motors, gears and electronic controls. The company projects 2015 revenue of €29 million (US$32 million), up about 8 percent from the prior year.
“The addition of Heidrive furthers our growth strategy, enabling us to expand our geographic reach and broaden our product and technical capabilities,” said Richard Warzala, Allied Motion’s CEO.