Omron agrees to buy OnLogic for $675 million in a physical AI push

OMRON Corporation has agreed to acquire Interlogic, Inc. and its OnLogic industrial-PC business for an enterprise value of $675 million on a debt-free, cash-free basis, according to an English TDnet notice dated Oct. 13. The companies plan to close around January 2027, subject to regulatory approvals and other conditions, and Omron said OnLogic will keep its brand and direct-sales model, with CEO Sean Larkin expected to remain.

The deal Omron announced

OMRON Corporation said it has agreed to buy Interlogic, Inc. and its industrial-PC subsidiary OnLogic, Inc. for an enterprise value of $675 million on a debt-free, cash-free basis — about ¥104.6 billion at the ¥155-per-dollar rate Omron used in its notice. The English TDnet notice is dated Oct. 13, 2026; Omron said its board approved the deal and signed the agreement on Oct. 10, Japan time.

The structure is a reverse triangular merger: a Delaware special-purpose company Omron will form merges into Interlogic, a Vermont corporation, with Interlogic surviving as a direct wholly owned Omron subsidiary and OnLogic becoming an indirect subsidiary. Omron said it chose that path because Interlogic's shareholders include the founders plus 167 officers and employees, so a single merger is cleaner than buying shares one by one. Sellers are founders Lisa and Roeland Groeneveld — 91.94% of Interlogic and 99.11% of the voting rights as of Oct. 9, 2026 — and those employee and officer holders. Omron said it will pay in cash, funded primarily from cash on hand, and will own 100% after closing.

What OnLogic brings to Omron

OnLogic designs, builds and sells rugged, configurable industrial PCs, mostly through direct sales and build-to-order production. Omron said more than 90% of OnLogic's sales come from the Americas and Europe. As of March 24, 2026, OnLogic had 301 employees across seven locations, including two manufacturing sites, based at 435 Community Drive in South Burlington, Vermont. Interlogic, founded in 2010, is the holding company; OnLogic itself dates to 2003. The notice lists OnLogic affiliates in the Netherlands, Germany, the United Kingdom, Taiwan and Malaysia.

Interlogic's consolidated results, prepared under U.S. GAAP and shown in Omron's notice, put 2025 net sales at $154.2 million, EBITDA at $22.6 million and adjusted EBITDA at $27.1 million, up from 2024 net sales of $122.3 million and adjusted EBITDA of $16.1 million. Net assets were $70.1 million at year-end 2025, with total assets of $133.2 million. Omron said adjusted EBITDA reflects diligence adjustments for items not expected to recur after the deal. It did not publish a purchase multiple against those figures.

Why Omron is buying now

Omron framed the purchase as part of shifting its industrial automation business from factory-automation equipment toward manufacturing-site digital transformation and physical AI. The notice says Omron wants to combine OnLogic's industrial PCs with Omron's high-precision control technology, expand sales through cross-selling into OnLogic's Western customer base, and jointly build digital-transformation and physical-AI offerings that pair Omron sensing and robotics gear with OnLogic hardware.

After closing, OnLogic is to keep operating as an independent business inside Omron's group and keep the OnLogic brand and its direct-to-customer model. Omron said the current management team, including CEO Sean Larkin, is expected to remain in place. Omron said it will support OnLogic's growth with its Asia platform and factory-automation control expertise. Omron said the merger is planned for around January 2027, subject to required approvals from relevant authorities and the other conditions in the definitive agreement. It expects the effect on consolidated results for the fiscal year ending March 2027 to be immaterial. Houlihan Lokey is financial advisor to Omron and Croke Fairchild Duarte & Beres is legal counsel; Evercore advises OnLogic with Mintz, Levin, Cohn, Ferris, Glovsky and Popeo as legal counsel. OnLogic's Oct. 13 release restates the definitive agreement and the same January 2027 closing window subject to regulatory approval.

How Omron's shares traded

On the Tokyo Stock Exchange, Omron shares (6645.T) closed at ¥6,498 on Tuesday, Oct. 13, up ¥103, or about 1.6%, from the prior session close of ¥6,395 on Oct. 9, according to Yahoo Finance's delayed daily chart. The Tokyo session was already finished by the U.S. afternoon. Omron's OTC ADR (OMRNY) last printed near $40.14 on the delayed tape; that print matches Monday's U.S. daily close and is not used here as Tuesday's Tokyo move.