ATS Automation Tooling Systems buying U.S. company BioDot for $106 million

CAMBRIDGE, Ont. – ATS Automation Tooling Systems Inc. has signed a deal to buy U.S. company BioDot Inc., a manufacturer of automated fluid dispensing systems, for $106 million.

California-based BioDot was founded in 1994 and makes non-contact and quantitative fluid dispensing systems.

The company employs 94 people spread across its two U.S. manufacturing facilities and locations in China and the United Kingdom.

ATS says BioDot will continue to be led by its long tenured CEO, Tony Lemmo.

The deal is expected to close in the second quarter of 2021, pending customary regulatory filings.

ATS says it plans to fund the acquisition by drawing on its revolving credit facility.

This report by The Canadian Press was first published April 14, 2021.

Companies in this story: (TSX:ATA)