MILWAUKEE – Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced that it has completed the acquisition of Plex Systems, the leading cloud-native smart manufacturing platform.
Rockwell Automation joins forces with Kezzler to enhance supply chain visibility. Following the recently announced Plex Systems acquisition, Rockwell will incorporate Plex's cloud-native factory floor track-and-trace capabilities into Kezzler's product digitization system.
Rockwell Automation’s recent acquisition of Plex Systems is cited as an example of industrial companies’ interest in B2B SaaS platforms. Note: The translated reference may inaccurately appear as Flex Systems.
An exciting new chapter for Plex Systems begins: Plex is joining forces with Rockwell Automation. When Accel first partnered with the Plex team in 2012, they believed that their cloud-based smart manufacturing solutions would be the key to dramatically increasing factory operations and supply chain efficiency for global manufacturers everywhere.
In a report released today, Noah Kaye from Oppenheimer assigned a Buy rating to Rockwell Automation, with a price target of $286.00. The company’s shares closed last Thursday at $285.51, close to its 52-week high of $289.52. Corporate insider sentiment is positive on the stock.
Fitch Ratings has affirmed Rockwell Automation, Inc.'s Long-Term Issuer Default Rating and senior notes at 'A', and Short-Term IDR and Commercial Paper at 'F1'. The Rating Outlook is Stable. This action follows the company's announcement that it has agreed to acquire Plex Systems from Francisco Partners for $2.2 billion. The transaction is expected to close in Rockwell's fiscal fourth quarter.