Analogic Corporation has entered into an agreement to acquire privately held Copley Controls Corporation of Canton, Massachusetts, a leading supplier of gradient amplifiers for Magnetic Resonance Imaging (MRI), and precision motion control systems. The purchase price is approximately $68.75 million cash and up to an additional $1.8 million to reimburse Copley shareholders for the tax consequences of the transaction. Copley will become a wholly owned subsidiary of Analogic. The transaction is expected to close in early April 2008.

Analogic is a leading Original Equipment Manufacturer (OEM) supplier of Radio Frequency (RF) amplifiers for MRI systems. Copley, founded in 1984, is a leading supplier to OEMs of gradient amplifiers for MRI systems. In addition to its Canton headquarters, Copley has offices and local technical support in the United States, Europe, and Asia, comprising approximately 250 employees worldwide.

Copley Motion Systems LLC, the UK based operation manufactures the groundbreaking ServoTube linear motor and linear actuator technologies (see Direct Drive linear motors shrink pick and place systems). These devices are used in laborartory automation and medical applications, although the packaging and machine tool markets are equally important. No doubt Analogic is well aware of the merits of this new asset.

Analogic President and CEO Jim Green said, “This is a very important step forward for Analogic as we augment organic growth with ‘good fit’ acquisitions that complement our core businesses. Our acquisition of Copley Controls combines two companies with strong engineering resources focused on high-value precision systems. The addition of Copley, with its leading-edge technology in high-field gradient amplifiers and its solid customer base, will enable Analogic to expand our product offerings to our OEM customers, open up new opportunities in Asia, and enhance our position as a leading provider of medical subsystems for MRI scanners.”

“Joining Analogic is a natural fit for us,” noted Matthew Lorber, President of Copley Controls. “The blending of our companies and technologies will benefit both our customers and Analogic’s. Copley’s products complement Analogic’s existing products and customer base. Our top-of-the-line systems and talented engineering team, combined with Analogic’s excellent reputation in the industry, its advanced technology, and well established market presence, will create new business opportunities.”

Read more in the Business Wire press release