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Rockwell Automation To Acquire Plex Systems For $2.22 Bln In Cash - Quick Facts

Industrial automation firm Rockwell Automation, Inc. (ROK) and Plex Systems, a cloud-native smart manufacturing platform, announced Friday 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.

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 Rockwell's strategy to bring the Connected Enterprise to life, driving faster time to value for its customers as they increasingly adopt cloud solutions to improve resilience, agility, and sustainability in their operations.

The acquisition will also accelerate Rockwell's software revenue growth and strengthen its annual recurring revenue streams.

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.

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.

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