GSI Group Inc. (NASDAQ: GSIG) (the "Company", "we", "our"), a global
leader and supplier of laser products, precision motion, and vision
technologies to original equipment manufacturers in the medical and
advanced industrial markets, today announced that it has changed its
corporate name to Novanta Inc., effective immediately. The Company
commenced trading today on the NASDAQ Global Select Market under the
name Novanta Inc. and the ticker symbol NOVT (CUSIP Number: 67000B104).
"The corporate name represents more than just our strategic
transformation over the last few years. It also represents our future
strategic vision, our commitment to innovation and excellence, and our
focus on driving profitable growth," said John Roush, Chief Executive
Officer of Novanta Inc. "We are renaming the Company to emphasize our
new direction and we intend to build a globally recognizable brand that
reinforces our vision and strategy."
"The name Novanta stands for
The
Innovation Advantage
, as innovation and technical
collaboration with customers are at the core of the Company's value
proposition, and our new logo signifies our focus on growth," added Mr.
Roush.
The Company's shareholders approved the corporate name change at the
Company's Annual and Special Meeting of Shareholders on May 10, 2016.
Following the approval of the Company's shareholders, the Company filed
Articles of Amendment with the New Brunswick Director of Corporations to
change its name to Novanta Inc.
The Company's web domain will also change to www.novanta.com.
About Novanta
Novanta is a leading global supplier of core technology solutions that
give advanced industrial and healthcare OEMs a competitive advantage. We
combine deep expertise at the intersection of photonics and motion with
a proven ability to solve complex technical challenges. This enables
Novanta to engineer core components and sub-systems that deliver extreme
precision and performance, tailored to our customers' demanding
applications. We deliver highly engineered laser, vision and precision
motion solutions to customers around the world. The driving force behind
our growth is the team of innovative professionals who share a
commitment to innovation and customer success. Novanta's common shares
are quoted on NASDAQ under the ticker symbol "NOVT".
Safe Harbor and Forward-Looking Information
Certain statements in this release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995 and are based on current expectations and assumptions that are
subject to risks and uncertainties. All statements contained in this
news release that do not relate to matters of historical fact should be
considered forward-looking statements, and are generally identified by
words such as "expect," "intend," "anticipate," "estimate," "believe,"
"future," "could," "should," "plan," "aim," and other similar
expressions. These forward-looking statements include, but are not
limited to, statements regarding our ability to generate profitable
growth; building a globally recognizable brand; and other statements
that are not historical facts.
These forward-looking statements are neither promises nor guarantees,
but involve risks and uncertainties that may cause actual results to
differ materially from those contained in the forward-looking
statements. Our actual results could differ materially from those
anticipated in these forward-looking statements for many reasons,
including, but not limited to, the following: economic and political
conditions and the effects of these conditions on our customers'
businesses and level of business activity; our significant dependence
upon our customers' capital expenditures, which are subject to cyclical
market fluctuations; our dependence upon our ability to respond to
fluctuations in product demand; our ability to continually innovate and
successfully commercialize our innovations; failure to introduce new
products in a timely manner; customer order timing and other similar
factors beyond our control; disruptions or breaches in security of our
information technology systems; changes in interest rates, credit
ratings or foreign currency exchange rates; risk associated with our
operations in foreign countries; our increased use of outsourcing in
foreign countries; our failure to comply with local import and export
regulations in the jurisdictions in which we operate; our reliance on
third party distribution channels; violations of our intellectual
property rights and our ability to protect our intellectual property
against infringement by third parties; risk of losing our competitive
advantage; our failure to successfully integrate recent and future
acquisitions into our business; our ability to make divestitures that
provide business benefits; our ability to attract and retain key
personnel; our restructuring and realignment activities and disruptions
to our operations as a result of consolidation of our operations;
product defects or problems integrating our products with other vendors'
products; disruptions in the supply of certain key components or other
goods from our suppliers; production difficulties and product delivery
delays or disruptions; our compliance, or our failure to comply, with
various federal, state and foreign regulations; changes in governmental
regulation of our business or products; effects of conflict minerals
regulations; our failure to comply with environmental regulations; our
failure to implement new information technology systems and software
successfully; our failure to realize the full value of our intangible
assets;our exposure to the credit risk of some of our customers and in
weakened markets; changes in tax laws, and fluctuations in our effective
tax rates; being subject to U.S. federal income taxation even though we
are a non-U.S. corporation; any need for additional capital to
adequately respond to business challenges or opportunities and repay or
refinance our existing indebtedness, which may not be available on
acceptable terms or at all; volatility in the market price for our
common shares; our ability to access cash and other assets of our
subsidiaries; the influence over our business of certain significant
shareholders; provisions of our articles of incorporation may delay or
prevent a change in control; our significant existing indebtedness may
limit our ability to engage in certain activities; and our failure to
maintain appropriate internal controls in the future.
Other important risk factors that could affect the outcome of the
events set forth in these statements and that could affect the Company's
operating results and financial condition are discussed in Item 1A of
our Annual Report on Form 10-K for the fiscal year ended December 31,
2015, our subsequent filings with the Securities and Exchange Commission
("SEC"), and in our future filings with the SEC. Such statements are
based on the Company's beliefs and assumptions and on information
currently available to the Company. The Company disclaims any obligation
to update any forward-looking statements as a result of developments
occurring after the date of this document except as required by law.
More information about Novanta is available on the Company's website at www.novanta.com.
For additional information, please contact Novanta Inc. Investor
Relations at (781) 266-5137 or InvestorRelations@novanta.com.