Spectrum: Bellevue-based Spectrum Controls acquired in $70M deal

Bellevue-based Spectrum Controls, which makes input-output (I/O) products, has been acquired by Allied Motion Technologies Inc. (Nasdaq: AMOT). Allied Motion, a motor company headquartered near Buffalo, New York, is paying $70 million total for Spectrum, including a $45 million upfront payment of $27 million cash and the remainder in stock. The remaining $25 million will be split into two equal payments this year and next year, each consisting of half cash and half stock. "This acquisition is an...