Reading time ( words)
FREMONT, Calif. Japanese automation provider Omron Corporation and North American Scientific Technologies (STI), which produces automation safe-guarding products, merged with shareholder approval. Omron acquired Scientific Technologies' safety products group (SPG); STI sold its automation products group (APG). The transaction value equaled $110.8 million.
The SPG business will remain in California and will operate as Omron Scientific Technologies, Inc. The family of Joseph J. Lazzara, president and CEO of STI, acquired the APG business. It will continue operations in Logan, Utah facilities under the name of Automation Products Group, Inc.
STI is no longer a publicly traded company, due to the merger. Wilson Sonsini Goodrich & Rosati advised in legal matters of the merger; the Spartan Group LLC advised on fiscal decisions.