- Astec Industries, Inc. (NASDAQ:ASTE) has agreed to acquire Minds Automation Group Inc., a developer of plant automation control systems and cloud-based data management in the asphalt industry. Deal terms were not disclosed.
- British Columbia, Canada-based Minds Automation has locations in the U.S., U.K., France, and Belgium.
- Minds Automation CEO Pierre Vidaillac and the leadership team will stay with Astec and support automation and controls technology advancement.
- Astec held cash and equivalents of $134.4 million as of December 31, 2021.
- Price Action: ASTE shares trading lower by 2.76% at $43.68 on the last check Wednesday.
Mid-Afternoon Market Update: Dow Rises 80 Points; County Bancorp Shares Spike Higher
Toward the end of trading Tuesday, the Dow traded up 0.24% to 33,957.60 while the NASDAQ rose 0.54% to 14,218.14. The S&P also rose, gaining 0.48% to 4,244.97.
