- Rockwell Automation, Inc. (NYSE: ROK) announced that it entered into a $400 million 364-day term loan agreement
Today Rockwell Automation, Inc. (NYSE: ROK) announced that it 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, Rockwell Automation announced it signed agreements to buy 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.”
Rockwell’s primary $1.25 billion credit facility remains undrawn and available.
