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© Tesla Electronics Production | November 07, 2017

Tesla acquires automation equipment company

On November 3, 2017, Tesla entered into an agreement to acquire automation equipment company, Perbix Machine Company, Inc.
In a statement on its website Tesla says that; “With the acquisition of Perbix, Tesla further advances its efforts to turn the factory itself into a product – to build the machine that makes the machine.”

Minnesota-based Perbix has been a Tesla supplier for nearly three years – and is now a part of Tesla. The company was founded back in 1976 and designs, builds and services highly-automated, high-volume manufacturing machinery.

According to the share purchase agreement with the company, the sole shareholder of record of Perbix, James S. Dudley, will receive about USD 10.5 million in Tesla stock, according to a regulatory filing.

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November 14 2017 8:30 PM V8.8.9-2