Atlas Copco and Isra Vision have signed a business combination agreement (BCA) to create a new division for the Darmstadt headquartered company within the Sweden-based global group.
This will see Atlas Copco launch a voluntary public takeover offer at €50 per share in cash for all outstanding shares of Isra Vision. Atlas Copco has already secured 34.9 percent of the shares via irrevocable undertakings from various shareholders, including CEO and founder Enis Ersü, and via a share purchase agreement with Kabouter Management.
Isra Vision specialises in machine vision systems with technologies for surface inspection and 3D vision, for robot guidance, quality inspection and metrology. These exist through two business lines, industrial automation and surface vision.
Through added products and competences, Atlas Copco is further strengthening its focus on technologies enabling digital manufacturing, while meeting increased demands for quality inspection and flexible automation. The move to integrate Isra Vision will provide a solid platform to continue the growth of Isra Vision, as well as fitting Atlas Copco’s long-term strategy.
‘Surface inspection and 3D machine vision are part of Atlas Copco’s long-term strategy,’ said Henrik Elmin, president, industrial technique, Atlas Copco. ‘Isra Vision has a strong brand and market position, a highly regarded technological expertise as well as a solid financial track record. Through this partnership we will increase the support for our customers on their transition towards digital manufacturing in several segments. The ability to offer both joining technologies and machine vision solutions for the same application strengthens our position as a strategic partner for our customers in the future.’
For Isra Vision and its founder Mr Ersü, the BCA serves as a viable succession route for the company. Isra Vision will continue to operate under the same brand with its headquarters in Darmstadt, and will become a new division within the industrial technique business area of Atlas Copco. Mr Ersü is to remain as Isra Vision CEO and facilitate the integration.
Mr Ersü commented, ‘Atlas Copco is the committed and long-term owner I have been looking for to give Isra Vision a platform for further growth. The partnership is good news not only for our shareholders, but for our customers, employees and our broader community, too.
‘Customers will benefit from business continuity and even better service through Atlas Copco’s global footprint. Employees will be pleased to see their jobs and headquarter location secured.’
