GSI Group (NASDAQ: GSIG; Bedford, MA), a supplier of laser products, precision motion, and vision technologies to OEMs, announced yesterday that it changed its corporate name to Novanta (NASDAQ: NOVT), and commenced trading today on the NASDAQ Global Select Market under that name.
"The corporate name represents more than just our strategic transformation over the last few years. It also represents our future strategic vision, our commitment to innovation and excellence, and our focus on driving profitable growth," said John Roush, Chief Executive Officer of Novanta. "We are renaming the company to emphasize our new direction and we intend to build a globally recognizable brand that reinforces our vision and strategy."
"The name Novanta stands for The Innovation Advantage, as innovation and technical collaboration with customers are at the core of the Company's value proposition, and our new logo signifies our focus on growth," added Mr. Roush.
Source: Novanta