# IPG Photonics to acquire Genesis Systems Group for $115 million

IPG Photonics Corporation signed a definitive agreement to acquire Genesis Systems Group, a robotic welding and automation integrator, for $115 million in cash. The transaction is expected to close in Q4 2018.

- Type: Acquisition
- Announced: 2018-11-05
- Where: Davenport, Iowa, United States
- Value: $115.0M
- Jobs: 380
- Status: announced
- Products: robotic welding systems, automation solutions
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Genesis Systems](https://endata.com/companies/8383.md) (target)
- [IPG Photonics Corporation](https://endata.com/companies/19196.md) (acquirer)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/1111928/000111192818000135/exhibit991-2018930orio.htm), 2018-11-05: "The cash purchase price is $115 million, subject to customary closing adjustments."
- [einpresswire.com](https://www.einpresswire.com/article/467222398/ipg-photonics-announces-agreement-to-acquire-genesis-systems-group), 2018-11-05: "The cash purchase price is $115 million, subject to customary closing adjustments."
- [wbjournal.com](https://wbjournal.com/article/ipg-acquires-iowa-robotics-firm-for-115m/), 2018-11-05: "IPG has been a supplier to Genesis for many years and its customers have embraced our new technologies and products"
- [dgpcapital.com](https://www.dgpcapital.com/2018/12/nov-2018-automation-controls-ma-news/), 2018-12-12: "IPG Photonics' acquisition of Genesis Systems for $115 Million"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.