Business
Allied Motion Announces Corporate Name Change to Allient Inc. and Ticker Change to ALNT
New name symbolizes the evolution of the business and success of its strategy to transform from a products-based business in motion control to a
About this update from Allient Inc.
[{"type":"text","content":"\n\nNew name symbolizes the evolution of the business and success of its strategy to transform from a products-based business in motion control to a solutions-oriented company that addresses its customers’ requirements for Motion, Controls and Power technology for a multitude of applications.\n\n\n\nNew name and ticker to become effective on August 23, 2023\n\n\n\nAnnounces webcast of Company’s investor and analyst day concurrent with new name on Wednesday August 23\n\n\n\n BUFFALO, N.Y.--(BUSINESS WIRE)--\nAllied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or the “Company”), a global designer and manufacturer of precision and specialty Motion, Controls and Power products and solutions for targeted industries and applications, announced today that shareholders approved its corporate name change to Allient Inc. at a special meeting of shareholders held on August 11, 2023. The new name will be effective August 23, 2023, and at the opening of the markets that day, the Company’s shares will commence trading under the new ticker ALNT on the Nasdaq.\n\n\n“The name change builds off the success we have demonstrated in the Motion industry and reflects the evolution of our technology portfolio into a broader set of Motion, Controls and Power solutions. Short for Allied Nexus Technologies, ‘Allient’ captures the value opportunity that exists at the nexus of the three technology pillars and recognizes the unique capabilities the combination offers,” commented Dick Warzala, Chairman and CEO.\n\n\nHe added, “Our increasing emphasis on Controls and Power technologies significantly expands the addressable markets for the Company. In addition, we are structuring our organization with focused market selling and support teams to increase solution sales opportunities under the Allient brand. Ultimately, we aim to replicate our growth and success in the Motion industry to broader addressable markets within the Controls and Power industries.”\n\n\nInvestor and Analyst Day Webcast\nDate: Wednesday, August 23, 2023\nStart time: 11:00 a.m. Eastern Time\nWebcast and accompanying slide presentation: www.alliedmotion.com/investor-relations\n\n\nThe Investor Day will be a great opportunity to hear more about Allient and the actions the Company is taking to:\n\n\n\nExpand its available markets\n\n\n\nFurther strengthen and grow its market share...