Ekso Bionics Holdings, Inc. acquired Human Motion and Control Business Unit of Parker Hannifin Corporation for $10 million.
December 04, 2022
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Ekso Bionics Holdings, Inc. acquired Human Motion and Control Business Unit of Parker Hannifin Corporation for $10 million on December 5, 2022. Out of $10 million, $5 million will be paid at closing and for the remaining $5 million, subordinated, unsecured zero coupon note will be payable quarterly over four years. The acquisition also includes Indego lower limb exoskeleton line of products, planned development of robotic assisted orthotic and prosthetic devices. Post acquisition, Scott Davis will serve as Chief Executive Officer and Steven Sherman will continue to serve as Chairman of the Board and will begin serving as Executive Chair of Esko. Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor to Ekso Bionics Holdings, Inc. (NasdaqCM:EKSO).
Ekso Bionics Holdings, Inc. completed the acquisition of Human Motion and Control Business Unit of Parker Hannifin Corporation on December 5, 2022. Patrick Leddy of Jones Day acted as legal advisor to Parker-Hannifin Corporation in the transaction.
Parker Hannifin Corporation specializes in designing, manufacturing, and selling monitoring and control systems. Net sales break down by family of products as follows:
- industrial systems (84.1%): industrial pipes, pipe connectors and adapters, oil filters, air filters, motors, hydraulic pumps and valves, pneumatic accessories, diagnostic equipment, climate control and monitoring systems (carbonic gas control systems, electronic controllers, pressure regulators, electromagnetic valves, thermostatic pressure relief valves), etc. North America accounts for 57.7% of net sales;
- aerospace systems and components (15.9%): flight control systems, fluid flow automation and monitoring systems, hydraulic components, brakes, etc. intended for military and commercial aircraft.
Net sales break down geographically as follows: North America (64.4%), Europe (19.9%), Asia-Pacific (14.4%) and Latin America (1.3%).
PARKER-HANNIFIN CORPORATION 
