Omron Corp. and Scientific Technologies Inc. (STI) have entered into an agreement under which Omron will acquire STI for $94 million.
Omron Corp. and Scientific Technologies Inc. (STI) have entered into an agreement under which Omron will acquire STI for $94 million plus net cash and working-capital adjustments. The transaction, which does not include the purchase of STI’s Automation Products Group (APG), was approved by both companies’ boards of directors.
Joseph J. Lazzara, President and CEO of STI said the transaction remains subject to certain closing conditions, including approvals by regulatory bodies and shareholders of both companies. Lazzara said STI's position in the safety market in North America will bolster Omron’s reach in the market.
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