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Barnes Group Inc. (NYSE: B), Bristol, CT, has agreed to acquire Brescia, Italy-based Gimatic S.r.l., for EUR 370 million (US $434.7 million) in cash.
Gimatic designs and develops robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components. The deal expands Barnes Group’s intellectual property-based industrial technologies portfolio.
Gimatic will operate as a new strategic business unit within Barnes Group’s Industrial Segment.