Mooreland Partners advises Adept Technology, Inc. in its acquisition of InMoTx

Mooreland Partners advises Adept Technology, Inc. in its acquisition of InMoTx

Greenwich, CT, January 5, 2011 – Adept Technology, Inc. announced that it has entered into an agreement to acquire privately held InMoTx, a provider of industry leading technology for the global food-processing market. With operations based in Denmark, InMoTx enhances Adept’s position in the fast-growing food packaging industry through a broad portfolio of intellectual property dedicated to inspecting, sorting, grading, and hygienically packaging unwrapped natural products improving food safety by eliminating the risk of contamination introduced by manual handling.

“With this acquisition Adept continues to execute on its mission to deliver exceptional value to clients requiring superior levels of flexibility, cleanliness and robustness from primary packaging automation,” said John Dulchinos, president and CEO of Adept Technology, Inc. “As was the case with Adept’s acquisition of MobileRobots, this transaction furthers Adept’s strategy to more efficiently transport goods, particularly those in regulated industries, throughout a facility by strengthening the company’s ability to automate the handling of products safely and reliably while offering traceability.”

At its inception in 2006, InMoTx strategically targeted the food processing markets where flexible automation has historically been absent in the handling of organic products due to the challenges associated with acquiring natural products. The food manufacturing industry (NAICS 311) was estimated to have shipped over $538 billion in product and employed 1.5 million people in 2006 according to the Bureau of Labor Statistics. The Bureau expects that employment will not increase in the industry but output will continue its growth at a rate of approximately 27 percent between 2006 and 2016. The products and services deployed by InMoTx offer critical tools in obtaining the levels of efficiency, flexibility and safety required by producers, consumers and government agencies.

“Becoming a part of Adept’s exacting pursuit of the high-speed packaging market and leveraging their resources and international support infrastructure along with tighter integration of our engineering teams, will accelerate the adoption of InMoTx’ technology and deep portfolio of products dedicated to the handling of natural products,” said Preben Hjornet, founder and chief technology officer, InMoTx. “In evaluating numerous vehicles to accelerate the expansion of our business, it was immediately apparent that Adept and InMoTx exhibit synergies across the businesses and cultures of strong customer focus.”

The acquisition of InMoTx compliments the introduction of both the Adept PAC and USDA-accepted Adept QuattroT in expanding Adept’s automation presence in meat processing (poultry, fish and red meats) which is estimated to represent placement opportunities of over 75,000 processing lines. The InMoTx team brings unmatched expertise in rapid development of flexible tooling and inspection solutions for the handling of natural products along with applications experience and an established industry network. Upon completion of the acquisition, InMoTx Denmark employees will become part of Adept’s team and will work with Adept’s existing engineering, operations and service teams in Pleasanton, CA, Dortmund, Germany and Singapore. InMoTx’ US operations will be consolidated into the Adept Pleasanton, CA headquarters.

About Adept Technology, Inc.
Adept Technology, Inc. is a global, leading provider of intelligent vision-guided robotics and autonomous mobile solutions and services with annual revenues of $55M. Adept systems provide unmatched performance and economic value throughout the production lifecycle, enabling customers to achieve precision, quality, and productivity in their assembly, handling, and packaging processes.

Founded in 1983, Adept Technology is the largest U.S.-based manufacturer of industrial manipulators and mobile robots. Adept intelligent automation product lines include high-performance motion controllers, application development software, vision-guidance technology and high-reliability robot mechanisms with autonomous capabilities. Adept provides specialized, cost-effective robotics systems and services to high-growth markets including Packaging, Medical, Disk Drive/Electronics, and Solar; as well as to traditional industrial markets including machine tool automation and automotive components.

Manufacturing its products in Pleasanton, California, Adept markets, distributes, and supports its products worldwide both directly with an employee base of 160 people and through channel partners. Adept’s robotics products and services are the solutions of choice for many industry-leading corporations. More than 30,000 Adept controlled robots are installed worldwide and with the acquisition of MobileRobots in 2010, the company has also deployed over 3,000 mobile platforms boasting millions of miles of autonomous operation. More information is available at www.adept.com.

About InMoTx
InMoTx is a leading innovator of flexible handling and packaging solutions with a concentration on delivering automation to the food processing industry. Since 2006 when the Company launched the first octoMATIONT Robotics Workforce, InMoTx has delivered systems to many of the world’s top food producers. InMoTx delivers turn-key systems solving the most challenging handling applications, which previously taxed even the most advanced vision and tooling solutions.

1. octoVISIONT provides the robot with “eyes” so it can determine object location. octoVISION can also determine the size of the object and estimate weight all within milliseconds.

2. octoGRIPPERT products are the “hands” that handle the product. The octoGRIPPER can handle nearly any item that can be handled with the human hand and can be used with suction applied directly or indirectly to the product.

3. octoSOFTT is the technology that integrates the octoGRIPPER with the octoVISION. octoSOFT provides clear and simple interaction with the system and can be operated by anyone familiar with the basics of Microsoft Windows Operating Systems. octoSOFT uses symbol (or video) communication when interacting with the operator user type. The robotic cell can be connected to both the customer’s corporate network as well as InMoTx’ service center via the internet, which provides on-call support and monitoring. InMoTx has developed and offers a broad product range automating a wide variety of food handling requirements including those subject to stringent sanitary regulations. Given its ability to handle non-rigid, non-uniform (or irregularly shaped or sized) objects, InMoTx has been quickly embraced by the food processing industry and is well positioned to serve other growing markets. The InMoTx high performance octoMATIONT is enabled with 3 proprietary components:

Manufacturing its products in Denmark and North Sioux City, SD, InMoTx markets, distributes, and supports its products worldwide both directly and through OEM partners. InMoTx has delivered numerous systems around the globe that are used by leading food processing organizations. InMoTx offers robust and reliable solutions boasting the industry’s most advanced vision, interface, and tooling solutions. More information is available at www.inmotx.com.