Rockwell Automation To Acquire CUBIC For Undisclosed Terms
(RTTNews) - Industrial automation firm Rockwell Automation, Inc. (ROK) announced Monday that it has signed a definitive agreement to acquire CUBIC, a company that specializes in modular systems for the construction of electrical panels.
Bronderslev, Denmark-based CUBIC, founded in 1973, serves fast-growing industries, such as renewable energy, data centers, and infrastructure, and is headquartered in.
CUBIC's efficient and flexible modular systems combined with Rockwell's intelligent devices and industry expertise will benefit customers by offering faster time to market, enabling broader plant-wide applications for intelligent motor control, and generating smart data to increase sustainability and productivity.
CUBIC's established partner model will allow Rockwell to build an expanded Partner Network for intelligent motor control offerings in Asia, Europe, and Latin America. Additionally, CUBIC will broaden Rockwell's market access in renewable energy and data center solutions.
At close, CUBIC will report to Rockwell's Power Control Business in the Intelligent Devices operating segment.
CUBIC is expected to report more than $75 million in sales in fiscal year 2022, which ended Sept. 30. The transaction is subject to customary regulatory approval and is expected to close by the end of 2022.
Rockwell Automation Slashes FY24 Outlook - Update
Rockwell Automation To Acquire Verve Industrial Protection For Undisclosed Terms
Yen Slides Against Majors
Canadian Dollar Climbs Against Most Majors
NZ Dollar Advances Against Majors
Australian Dollar Rises Against Majors
European Markets Seen Opening Positive On Monday
