Nov. 13 at 8:29 PM
Matthews International shares rose Thursday after the company announced a definitive agreement to sell its Matthews Automation Solutions unit to Duravant LLC. The division, known for its warehouse execution and control software brands like Pyramid, Compass, Nexus, and Lightning Pick, will join Duravantâs Material Handling segment. The deal expands Duravantâs capabilities in e-commerce, retail, parcel, and logistics fulfillment. Operations in Ohio and Wisconsin will be integrated with Duravantâs existing brands such as FMH Conveyors, NPI, QC Conveyors, and Motion06. The transaction, pending regulatory approval, is expected to close by March 31, 2026. Financial terms were not disclosed.
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