Oshkosh (NYSE: OSK) has closed its acquisition of engineering company Pratt Miller in a debt- and cash-free transaction worth approximately $115M.
“This acquisition will allow us to leverage Pratt Miller’s experience and innovation in areas such as artificial intelligence, robotics, autonomous and connected systems and electrification, positioning our Company for future growth,” John Pfeifer , president and chief operating officer of Oshkosh, said in a statement published Tuesday.
Pratt Miller will retain its name, branding, facilities and team members and Oshkosh said the acquisition will provide the company immediate access to additional engineering expertise.
Oshkosh first announced the transaction in mid-December.
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