Allient Inc. (NasdaqGM:ALNT) acquired Sierramotion Inc on September 22, 2023.

Allient Inc. (NasdaqGM:ALNT) completed the acquisition of Sierramotion Inc for $8.4 million on September 22, 2023.The preliminary purchase price for Sierramotion includes contingent consideration payable and at closing consisted of a combination of cash and Company stock. Under the Purchase Agreement, a portion of the purchase price was in the form of equity consisting of 35,380 shares of Company common stock. The contingent consideration for the acquisition of Sierramotion consists of Company stock and, if earned, would be settled in the first half of 2024.