Applied Industrial Technologies to Acquire IRIS Factory Automation; Board Approves New Share Buyback

MT Newswires Live

05/01

Applied Industrial Technologies (AIT) said Thursday it has agreed to acquire IRIS Factory Automation, a provider of automation products, services and turn-key productized offerings.

Financial terms of the acquisition, which is expected to close this week, were not disclosed.

Applied Industrial also said its board has authorized a new share buyback program for up to 1.5 million common shares, replacing the prior repurchase plan.

Price: 232.92, Change: -10.36, Percent Change: -4.26

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