10:49 AM EDT, 05/01/2025 (MT Newswires) -- Applied Industrial Technologies ( AIT ) said Thursday it has agreed to acquire IRIS Factory Automation, a provider of automation products, services and turn-key productized offerings.

Financial terms of the acquisition, which is expected to close this week, were not disclosed.

Applied Industrial ( AIT ) also said its board has authorized a new share buyback program for up to 1.5 million common shares, replacing the prior repurchase plan.

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