Indianapolis-based manufacturer Hurco Cos. Inc. has acquired the machine-tool component business of LCM Srl, an Italian manufacturer.
Terms of deal, announced Monday, were not disclosed.
Hurco President Greg Volovic said LCM has been “an important supplier of components” to Hurco. LCM has been producing mechanical and electro-mechanical components for machine tools since 1986.
“This acquisition will prove vital to our targeted growth plan, which supports the financial strength of our company, ensures product development agility, and will foster an expansion of LCM's line of high-quality value-added technologies," Volovic said in a prepared statement.
Hurco, which designs and produces interactive computer controls, software and computerized machine tools, does most of its business in Europe.
The company did nearly $32 million in business in Europe in the quarter ending April 30, accounting for 64 percent of its revenue.
Hurco shares rose 8 cents Monday, to $28.89 each.