Siemens Energy & Automation, Atlanta, signed an asset purchase agreement to acquire Controlotron Corp., headquartered in Hauppauge, N.Y.
Terms of the deal, which is expected to close in May, were not disclosed.
Controlotron is a leader in nonintrusive ultrasonic flow measurement and is expected to enhance Siemens’ position in this segment of the market.
Siemens intends to operate the company from its Hauppauge location. Controlotron employs approximately 120 people. Siemens said it would extend formal offers of employment one week prior to the closing.
"The purchase of Controlotron will strengthen Siemens’ portfolio and broaden its presence in the process instrumentation market," said Aubert Martin, president and CEO, Siemens Energy & Automation Inc.
"Controlotron is highly recognized for its advanced technology in nonintrusive flow measurement, and its strong market positions in oil and gas, water and waste water, HVAC, energy and pipeline applications. A combined portfolio of Siemens and Controlotron products, services and solutions represents a robust and complementary offering to our customers."
"Access to Siemens worldwide distribution channel and the combined product portfolio will support an aggressive growth strategy and further penetration into both existing and new markets," said Tony Muraco, senior vice president and COO, Controlotron Corp. "Additionally, I’m confident Siemens will provide Controlotron with the level of investment in employees, research and development and operations required to strengthen its global market position."