Valmet Oyj (HLSE:VALMT) entered into an agreement to acquire NovaTech Automation's Process Solutions Business from NovaTech, LLC on November 9, 2022. The Process Solutions business has a turnover of approximately $18 million and employs more than 90 people in the United States and the Benelux countries. The NovaTech Automation Process Solutions business will transition to Valmet, including employees, technologies and customer agreement.

The acquired business will be integrated to Valmet's Automation Systems business line. The acquisition is estimated to be completed on January 1st, 2023 at the earliest.