Applied Industrial To Buy Olympus Controls; Terms Not Disclosed - Quick Facts

(RTTNews) - Applied Industrial Technologies, Inc. (AIT) agreed Monday to acquire Olympus Controls Corp., an automation solutions provider, including design, assembly, integration, and distribution of motion control, machine vision, and robotic technologies.

The terms of the deal were not disclosed. The transaction is expected to close before the end of August 2019.

Olympus brings to Applied Industrial a full range of value-added automation expertise, with leading technology solutions, an established geographic footprint, and strong supplier partnership.

Olympus' addition is a strong complement to Applied Industrial's business, further broadening its capabilities, customer opportunities and technical presence across varied industrial segments.