Indianapolis-based Hurco Companies Inc. (Nasdaq: HURC) has announced the acquisition of two manufacturing companies. In filings with the U.S. Securities and Exchange Commission, the company said the deals have a combined value of $19.8 million.

Hurco said part of the more than $13 million acquisition of Milltronics Manufacturing Co. includes changing the Minnesota-based company's corporate name to Milltronics USA Inc. Milltronics designs and produces computer numeric control operated milling, machining and lathing technology.

The Hurco Manufacturing Ltd. subsidiary purchase of Taiwanese manufacturer Takumi Machinery Co. Ltd. is valued at $6.5 million. The acquisition is set to close by the end of the month. Takumi designs and manufactures CNC machines and sells to customers in Taiwan, China and Europe.

Hurco President Gregory Volovic said, "We believe these acquisitions will assist in our efforts to expand our global platform, particularly in strategic markets such as China and Latin America, and to achieve manufacturing cost reductions from economies of scale and manufacturing efficiencies."