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BRIEF-Novanta Acquires Remaining Equity Interest In Laser Quantum

Published 2018-10-02, 04:14 p/m
BRIEF-Novanta Acquires Remaining Equity Interest In Laser Quantum
NOVT
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Oct 2 (Reuters) - Novanta Inc NOVT.O :

* NOVANTA ACQUIRES REMAINING EQUITY INTEREST IN LASER QUANTUM

* NOVANTA INC - ACQUIRED REMAINING ABOUT 24 PERCENT OF OUTSTANDING SHARES OF LASER QUANTUM FOR CONSIDERATION OF $45.7 MILLION IN CASH, RESTRICTED STOCK

* NOVANTA INC - DEAL IS NOT EXPECTED TO GIVE RISE TO GAIN OR LOSS IN CONSOLIDATED STATEMENT OF OPERATIONS

* NOVANTA INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO NOVANTA'S NON-GAAP EARNINGS PER SHARE

* NOVANTA - PURCHASE PRICE FINANCED WITH CASH ON HAND, BORROWINGS UNDER CO'S AMENDED & RESTATED CREDIT FACILITY, ISSUANCE OF $15 MILLION IN RESTRICTED STOCK

* NOVANTA INC - ACQUISITION OF REMAINING 24 PERCENT MINORITY INTERESTS WILL BE ACCOUNTED FOR AS A TRANSACTION AMONG SHAREHOLDERS

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