Duravant To Acquire Key Technology

工程设备负责人Duravant签署了一项确定,以获取关键技术

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Duravant有限责任公司(“Duravant”),全球工程装备的ipment and automation solutions provider to the food processing, packaging and material handling sectors, announced today that it has entered into a definitive agreement to acquire Key Technology, Inc. (“Key Technology”) (NASDAQ: KTEC), a leading designer and manufacturer of digital sorting, inspection, conveying and processing equipment. The transaction brings together two global engineered equipment leaders and significantly extends Duravant’s reach across food processing with new complementary products and applications.

根据该协议的条款,该协议已获得Key Technology董事会一致批准,Duravant将开始招标要约,以26.75美元的现金收购所有关键普通股的所有流通股,价值约1.75亿美元。

Key Technology is a worldwide leader in advanced automation systems for food processing and other end markets. Their portfolio includes highly intelligent optical inspection and digital sorting systems, vibratory conveying systems, and process and preparation systems.With corporate headquarters in Walla Walla, Washington and facilities in the Netherlands, Belgium, Australia and Mexico, Key Technology serves national and multi-national customers with leading-edge technical, mechanical, optical and software-based solutions designed to optimize yield, quality and efficiency.

Duravant总裁兼首席执行官Mike Kachmer说:“我很高兴欢迎主要的技术团队来到Duravant。”“ Key Technology的以客户为中心的创新文化及其成功启动新技术平台的能力一直是他们令人印象深刻的增长的推动力。我们的两个组织通过创新为我们的客户解决复杂的挑战而有同样坚定不移的承诺。”

“关键技术真的很兴奋和荣幸加入Duravant,我们对

the future of our combined teams,” said Jack Ehren, President and CEO of Key Technology. “Duravant’s strong commitment to investment and growth will enable Key to accelerate the execution of our overall strategic plan and even further enhance our customer partnerships.”

Duravant serves customers and partners in over 190 countries worldwide across multiple sectors including food and beverage, agriculture, household goods, pharmaceuticals, distribution and industrials. With a portfolio of world-class brands and automation solutions, Duravant connects equipment, integration and lifecycle management through the company’s SupportPro services.

“The combined global infrastructure of Duravant and Key will also help us advance our commitment to increased geographic market and new application penetration,” added Mr. Ehren.

The transaction is expected to close in the first quarter of 2018, subject to the tender and acceptance of at least a majority of the outstanding shares of Key common stock as well as other customary closing conditions. Following the close of the transaction, Key Technology will become a member of the Duravant family of operating companies.

Baird served as exclusive financial advisor to Key Technology. Tonkon Torp LLP served as legal advisor to Key Technology. Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to Duravant.

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