8-KAcquisitions & DispositionsExhibits & Filings

ROCKWELL AUTOMATION, INC 8-K Report, Acquisition Completed (Jul 20, 2018)

Filed July 20, 2018For Securities:ROK

Summary

Rockwell Automation, Inc. (ROK) has officially completed its significant investment in PTC Inc. by acquiring approximately 10.6 million shares of PTC common stock for a total of $1.0 billion in cash. This transaction, finalized on July 19, 2018, was executed under the terms of a previously announced Securities Purchase Agreement, solidifying a strategic partnership between the two companies. The investment is expected to align with Rockwell Automation's strategic objectives and integrate PTC's capabilities to enhance its offerings in the industrial automation and software space. In conjunction with this investment, Rockwell Automation and PTC entered into a Registration Rights Agreement. This agreement grants Rockwell Automation customary registration rights for the acquired shares, subject to market standstill provisions. PTC is obligated to file a resale shelf registration statement for these shares by July 19, 2019. Investors should monitor the impact of this partnership on Rockwell Automation's future growth and market position.

Key Highlights

  • 1Rockwell Automation (ROK) completed the acquisition of 10,582,010 shares of PTC Inc. common stock.
  • 2The total purchase price for the PTC shares was approximately $1.0 billion in cash.
  • 3The acquisition was finalized on July 19, 2018, as per the Securities Purchase Agreement dated June 11, 2018.
  • 4This investment signifies a strategic partnership between Rockwell Automation and PTC.
  • 5A Registration Rights Agreement was entered into, granting Rockwell Automation registration rights for the acquired shares.
  • 6PTC is required to file a resale shelf registration statement for the shares by July 19, 2019.
  • 7The filing is an 8-K Current Report detailing the completion of this significant transaction.

Frequently Asked Questions

This 8-K filing officially announces the completion of Rockwell Automation's acquisition of shares in PTC Inc. and the establishment of a strategic partnership between the two companies. It provides details on the transaction, including the number of shares purchased, the purchase price, and the execution of a Registration Rights Agreement.

The company invested approximately $1.0 billion in cash to acquire the PTC shares. Investors should look for future filings and company reports to understand the ongoing financial implications, including any potential synergies, integration costs, and the impact on Rockwell Automation's financial performance and strategic growth initiatives.

The Registration Rights Agreement grants Rockwell Automation customary registration rights for the shares it acquired from PTC, subject to market standstill provisions. PTC is obligated to file a resale shelf registration statement concerning these shares no later than July 19, 2019, which will facilitate the potential resale of these shares in the public market.

The investment in PTC is described as part of a strategic partnership. While the filing doesn't detail the specific operational benefits, it suggests that Rockwell Automation aims to leverage this partnership to enhance its product offerings, expand market reach, or drive innovation in the industrial automation and software sectors.