Adept Technology to acquire MetaControls Technologies

07/18/2002


San Jose, Calif . - Adept Technology announced July 17 that it has signed a letter of intent to acquire a controlling interest in privately held MetaControls Technologies (Morrisville, N.C.) in a common stock transaction. Completion of the acquisition remains subject to entering into definitive agreements, completion of due diligence, obtaining required approvals and other standard closing conditions. Adept reports that it expects the proposed acquisition, if completed, to be cash neutral.

Brian Carlisle, chairman and ceo of Adept said, 'Combining the Meta product line with Adept's software and controls has already resulted in proposal activity to address the complete controls needs of targeted major OEM customers. The proposed acquisition would extend Adept's product line to include low cost, low power, FireWire controllers and cameras allowing us to address the extremely cost competitive, but rapidly growing, motion control market in China.'

Meta is a manufacturer of a line of sub-compact motion controllers / motor drivers and machine vision cameras that are networked together via the IEEE1394 (FireWire) high-speed serial bus. Adept SmartController family of products, developed over the past three years, are a family of intelligent motion and vision controllers and power amplifiers also based on FireWire. The Meta product line plugs directly into the Adept control architecture and provides miniature amplifiers and control for precision machinery. It can also plug directly into a PC for simple applications, eliminating motion control boards and a significant amount of cabling, which traditionally has been a major source of after market maintenance, service and cost issues for manufacturers.


Control Engineering Daily News Desk
Gary A. Mintchell, senior editor
gmintchell@reedbusiness.com





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