Rockwell Automation, Inc. (ROK) - Get Rockwell Automation, Inc. Report, the world's largest company dedicated to industrial automation and digital transformation, and Plex Systems, the leading cloud-native smart manufacturing platform operating at scale, today announced that Rockwell has entered into an agreement to acquire Plex for $2.22 billion in cash.
Plex offers the only single-instance, multi-tenant SaaS manufacturing platform operating at scale, including advanced manufacturing execution systems, quality, and supply chain management capabilities. It has over 700 customers and manages more than 8 billion transactions per day. Plex's software capabilities will be further differentiated by Rockwell's global market access, complementary industry expertise, and ability to turn real-time data into actionable insights.
"This acquisition will accelerate our strategy to bring the Connected Enterprise to life, driving faster time to value for our customers as they increasingly adopt cloud solutions to improve resilience, agility, and sustainability in their operations," said Blake Moret, Chairman and CEO of Rockwell Automation. "Combining Plex's cutting-edge cloud technology with Rockwell's existing software portfolio and domain expertise will add customer value and create more ways to win. The acquisition will also accelerate our software revenue growth and strengthen our annual recurring revenue streams."
A growing dilemma for manufacturers is the urgent need to increase production and improve resilience, while driving efficiency and compliance. Companies are increasingly seeking to upgrade their production systems with modern, cloud-based manufacturing execution systems that are easy to implement, use, and maintain. Plex's platform helps customers to connect, automate, track, and analyze their operations and connected supply chains.
"Rockwell believes in the power of data and technology to transform manufacturing and industrial operations," said Brian Shepherd, senior vice president, Software and Control, for Rockwell Automation. "Together with the advanced asset maintenance and management capabilities provided by our recent Fiix acquisition, Rockwell will have a strong portfolio of cloud-native solutions for our customers' production systems upon completion of the Plex acquisition."
"Plex has always been more than a company," said Bill Berutti, CEO of Plex. "We have been a leader in the movement to smart manufacturing and a trusted partner to more than 700 manufacturing companies around the globe. Joining forces with Rockwell is great for our customers, our partners, and our employees as we move to expand our reach and impact and accelerate our mission to bring manufacturing to the cloud."
Plex will be reported as part of Rockwell's Software and Control operating segment which provides leading hardware and software offerings for the design, operation, and maintenance of production automation and management systems. As a part of the acquisition, Rockwell will welcome more than 500 highly engaged new employees.
The acquisition will be financed with a combination of cash and short-term and long-term debt. Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to close in Rockwell's fiscal fourth quarter.
Conference Call - 8:30 a.m. EDT Today
Rockwell will hold a video webcast to discuss the acquisition at 8:30 a.m. EDT, today, Friday, June 25. Interested parties can join by clicking this URL: https://rockwellautomation.zoom.us/j/83083349122.
Joining via webcast link is strongly encouraged, but if dialing in by phone, use the following number: +1 929-205-6099 in the U.S., and international numbers may be found using this link: https://rockwellautomation.zoom.us/u/kcnAInfsW3. Use the following webcast ID: 830 8334 9122. Please dial in 10 minutes prior to the start of the call.
About Rockwell Automation
Rockwell Automation Inc. (ROK) - Get Rockwell Automation, Inc. Report 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 24,000 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.
About Plex Systems
Plex Systems® is the leader in cloud-delivered smart manufacturing solutions, empowering the world's manufacturers to make awesome products. Our platform gives manufacturers the ability to connect, automate, track, and analyze every aspect of their business to drive transformation. The Plex Smart Manufacturing Platform includes solutions for manufacturing execution (MES), ERP, quality, supply chain planning and management, Industrial IOT and analytics to connect people, systems, machines and supply chains, enabling them to lead with precision, efficiency and agility.
This press release contains statements (including certain projections, guidance, 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. The opinions, forecasts and projections regarding the expected benefits of the proposed acquisition; the expected timing of the completion of the acquisition; the parties' ability to complete the transaction considering the various regulatory approvals and other closing conditions; future opportunities for the acquisition and its products and solutions; and any other statements regarding the future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance of the acquired company, are forward-looking statements within the meaning of the federal securities laws. 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 ability to successfully complete the acquisition on anticipated terms and timetable, the ability to successfully integrate and achieve expected benefits of the acquisition, risk relating to any unforeseen liabilities of the acquired company; and other risks and uncertainties, including but not limited to those detailed from time to time in our Securities and Exchange Commission (SEC) filings.
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