Rockwell Automation Announces Intent to Acquire CUBIC

Rhea-AI Summary

Rockwell Automation (NYSE: ROK) has announced its acquisition of CUBIC, a modular systems provider for electrical panel construction, headquartered in Denmark. The acquisition aims to enhance Rockwell’s intelligent motor control offerings, targeting fast-growing sectors like renewable energy and data centers. CUBIC is projected to generate over $75 million in sales for the fiscal year 2022. The transaction is pending regulatory approval and is expected to finalize by the end of 2022. This strategic move is set to expand Rockwell's market reach in Asia, Europe, and Latin America.

Positive

• Acquisition of CUBIC strengthens Rockwell's intelligent motor control technology portfolio.
• Expected annual sales from CUBIC to exceed $75 million for fiscal year 2022.
• Expansion of Rockwell's market access into renewable energy and data centers.
• Increased partner network for intelligent motor control offerings across Asia, Europe, and Latin America.

Negative

• None.

Acquisition to strengthen, expand global reach for intelligent motor control center offering

MILWAUKEE--(BUSINESS WIRE)-- Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced that it has signed a definitive agreement to acquire CUBIC, a company that specializes in modular systems for the construction of electrical panels. CUBIC, founded in 1973, serves fast-growing industries, such as renewable energy, data centers, and infrastructure, and is headquartered in Bronderslev, Denmark.

CUBIC’s efficient and flexible modular systems combined with Rockwell’s intelligent devices and industry expertise will benefit customers by offering faster time to market, enabling broader plant-wide applications for intelligent motor control, and generating smart data to increase sustainability and productivity.

CUBIC’s established partner model will allow Rockwell to build an expanded Partner Network for intelligent motor control offerings in Asia, Europe, and Latin America. The company will bring new customers and partners in hybrid and process industries. Additionally, CUBIC will broaden Rockwell’s market access in renewable energy and data center solutions.

“CUBIC’s innovative motor control solutions strengthen our portfolio of leading intelligent motor control technologies,” said Bob Buttermore, vice president and general manager of Rockwell’s Power Control Business. “We are pleased to welcome a talented team with specialized expertise in structural design, power systems, and global standards.”

“Joining Rockwell will enable us to expand our relationships and accelerate our global growth,” said Jacob Moller Knudsen, CEO of CUBIC. “This is a perfect match that will allow us to offer our customers the best solutions going forward.”

At close, CUBIC will report to Rockwell’s Power Control Business in the Intelligent Devices operating segment.

CUBIC is expected to report more than $75 million in sales in fiscal year 2022, which ended Sept. 30. The transaction is subject to customary regulatory approval and is expected to close by the end of 2022.

About Rockwell Automation

Rockwell Automation, Inc. (NYSE: ROK), 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 25,000 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 CUBIC

CUBIC was founded in 1973 based on a unique idea of a modular system for the construction of electrical panels. This idea has since the early start developed CUBIC into a global and recognized partner within electromechanics and with a product range that comprises any type of enclosure. CUBIC’s solutions are used in industry, in mining and in airports.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005349/en/

Marci Pelzer

Director, External Communications

+1 414-553-4661

MPelzer@rockwellautomation.com

Source: Rockwell Automation, Inc.

FAQ

What is the purpose of Rockwell Automation's acquisition of CUBIC?

The acquisition aims to enhance Rockwell's intelligent motor control offerings and expand its market reach in renewable energy and data centers.

How much sales is CUBIC expected to report in fiscal year 2022?

CUBIC is projected to report over $75 million in sales for fiscal year 2022.

When is the acquisition of CUBIC expected to close?

The acquisition is expected to close by the end of 2022, pending regulatory approvals.

How will the acquisition impact Rockwell's market access?

The acquisition will broaden Rockwell's access to fast-growing industries in Asia, Europe, and Latin America.