MILWAUKEE--(BUSINESS WIRE)--Rockwell Automation, Inc. (NYSE: ROK) announced today that it has entered into a $400 million, 364-day term loan agreement, which will be used to provide funding for two previously announced acquisitions and for other general corporate purposes.
In February of this year, Rockwell Automation announced the signing of agreements to acquire privately-held Kalypso, LP, a US-based software delivery and consulting firm, and Italy-based ASEM, S.p.A., a leading provider of digital automation technologies. These acquisitions are expected to close within the next few weeks.
“Kalypso and ASEM are key investments for our company’s long-term growth and will help position our company for future success as markets recover,” said Blake Moret, chairman and chief executive officer of Rockwell Automation.
"We are pleased to have secured this additional short-term financing to support these acquisitions and build on the preemptive actions Rockwell Automation is taking to maintain financial strength and flexibility as we navigate current market conditions,” continued Moret.
The Company’s primary $1.25 billion credit facility remains undrawn and available.
Further details about the loan agreement are contained in a Current Report on Form 8-K filed by Rockwell Automation with the U.S. Securities and Exchange Commission.
This news release contains statements (including certain projections and business trends) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Words such as “believe”, “estimate”, “project”, “plan”, “expect”, “anticipate”, “will”, “intend” and other similar expressions may identify forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties, many of which are beyond our control, including but not limited to the duration and severity of the COVID-19 pandemic and the disruption to our business and the global economy caused by it, including (i) its effects on demand for our and our customers’ products, solutions and services, (ii) its effect on our and our business partners’ and customers’ supply chains, workforce (including the inability of our and our business partners’ and customers’ personnel to travel), asset values, liquidity and spending, and (iii) the impact of facility closures, furloughs and other actions taken by our business partners and customers in response to the COVID-19 outbreak, and other risks and uncertainties, including but not limited to those detailed from time to time in our Securities and Exchange Commission (SEC) filings.
About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 23,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing The Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.