Bosch Rexroth, an engineering firm based in Lohr am Main in Germany, agreed to acquire Elmo Motion Control, a global company of motion control intelligence solutions, for $700m. Elmo, founded in 1988 by Haim Monhait, who still serves as its CEO, develops motion control intelligence solutions. The company designs and manufactures ultra-advanced servo drives and network motion controllers. Elmo’s products are integrated into a wide variety of applications from industrial to extreme environment automation.