ExclusiveBosch to acquire Elmo Motion Control for $700 million
Bosch to acquire Elmo Motion Control for $700 million
The Israeli company, founded in 1988 by Haim Monhait, designs and manufactures ultra-advanced servo drives and network motion controllers
Israeli company Elmo Motion Control is being acquired by German corporation Bosch for $700 million. Calcalist revealed last month that the Israeli company is in the process of being sold and has hired investment bank Rothschild & Co. to manage its sale.
Elmo, founded in 1988 by Haim Monhait, who still serves as its CEO, develops motion control intelligence solutions. The company designs and manufactures ultra-advanced servo drives and network motion controllers. Elmo’s products are integrated into a wide variety of applications from industrial to extreme environment automation.
Elmo will remain based in Israel, with its employees to become part of Bosch. Several companies are believed to have bid for Elmo, with Rockwell Automation, which is traded on Nasdaq with a market cap of around $27 billion, one of the companies interested in acquiring the Israeli company.
Elmo develops, manufactures, and implements control solutions for motion-critical applications. Elmo’s servo drives, multi-axis controllers, and integrated motors are designed with an emphasis on performance, yield, reliability, safety, and agility for the original equipment manufacturers (OEMs).
The company employs 400 people and has sales offices and distributors across the world. Elmo’s factories are located in Petah Tikva and Poland. Around a third of the company’s employees are focused on R&D.