Novanta Acquired Zettlex
Novanta Inc. (Nasdaq: NOVT), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that it has acquired privately-held Zettlex Holdings Limited ("Zettlex").
Zettlex, based in Cambridge, England, provides original equipment manufacturers ("OEMs") with inductive encoders that can provide absolute and accurate positioning even in extreme operating environments. Zettlex has approximately 40 employees and won the Queen's Award for Innovation in 2017 and for International Trade in 2018. Zettlex has grown rapidly as the result of strong demand for their compact, accurate, lightweight and robust position sensors. Zettlex was founded by Darran Kreit and Mark Howard, who have agreed to remain with the business, and Zettlex will operate as part of Novanta's Celera Motion business. Zettlex founders issued the following statement, "Zettlex has grown quickly in recent years and we're excited to join Novanta as we believe this provides the opportunity to accelerate growth still further."
"By combining our commercial resources and application specific competencies with Zettlex's technologies and strong team, Celera Motion can broaden the components and solutions we can provide our customers," said Matthijs Glastra, Chief Executive Officer of Novanta. "We see a growing demand for precision motion technology in robotics, precision automation and key medical markets, and we're excited to add a complementary technology to our precision motion offerings. In particular, many of Celera Motion's customers desire absolute encoder technology, and we are pleased to be able to meet their needs."
Celera Motion, headquartered in Bedford, Massachusetts, is a market leading provider of motion control components and subsystems for OEMs serving a variety of medical and advanced industrial markets. Celera Motion offers precision encoders, motors, and customized mechatronic solutions that help customers solve challenging motion control problems.