Allied Motion Technologies Inc., a global designer and manufacturer of precision and specialty motion, controls and power products and solutions for targeted industries and applications, announced that shareholders approved its corporate name change to Allient Inc. at a special meeting of shareholders held on August 11, 2023. The new name will be effective August 23, 2023, and at the opening of the markets that day, the company’s shares will commence trading under the new ticker ALNT on the Nasdaq.
“The name change builds off the success we have demonstrated in the Motion industry and reflects the evolution of our technology portfolio into a broader set of Motion, Controls and Power solutions. Short for Allied Nexus Technologies, ‘Allient’ captures the value opportunity that exists at the nexus of the three technology pillars and recognizes the unique capabilities the combination offers,” commented Dick Warzala, chairman and CEO.
He added, “Our increasing emphasis on controls and power technologies significantly expands the addressable markets for the company. In addition, we are structuring our organization with focused market selling and support teams to increase solution sales opportunities under the Allient brand. Ultimately, we aim to replicate our growth and success in the Motion industry to broader addressable markets within the controls and power industries.”