Moog Inc. (NYSE: MOG.A and MOG.B) announced today that it has acquired Animatics Corporation. The purchase price is approximately $25 million consisting of 467,749 shares of Moog Class A stock (based on a 30 day average price of $42.76) and $5 million in cash. Animatics, founded in 1987, is a leading supplier of SmartMotor™ servo motors and linear actuators used in industrial applications. Animatics had trailing 12 month revenues of $15 million.
Animatics’ integrated servos, or SmartMotors, 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. Animatics’ products solve a broad array of challenging problems, particularly when multi-axis coordination is essential. Moog Components Group supplies the core motor components to Animatics for the SmartMotor product lines.
“The acquisition of Animatics brings several very strong products to our motion technology portfolio, as well as a sophisticated distribution network that reaches hundreds of customers world-wide,” said Larry Ball, President of Moog Components Group.
Sales for Animatics are expected to be approximately $5 million for the balance of Moog’s 2011 fiscal year. This acquisition is expected to be neutral to Moog’s earnings per share for the year ending October 1, 2011 due to first year purchase accounting adjustments.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind energy, marine and medical equipment.
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