Why the Novanta acquisition is a win-win for ATI employees

Novanta has been under contract to acquire ATI Industrial Automation for $172 million in cash. And it turns out the deal is a win-win for most ATI employees, not just the co-founders and higher-ups. In 2012, ATI established an Employee Stock Ownership Plan (ESOP). An ESOP is a federally-qualified ERISA benefit plan that makes employees owners in the company. Founded in 1989 in North Carolina, ATI has become a global company with over 350-plus employees worldwide.