Esko is set to sell its print inspection business Advanced Vision Technology (AVT) to Israeli private company Porat Itay Holdings, with an anticipated closing of the transaction to be in Q1 of 2025. The decision, says Esko president Joël Depernet, will enable AVT to operate with the strategic focus necessary to drive its growth and innovation.
The purchase will see Porat Itay obtain AVT’s assets, employees, contractual agreements and intellectual property. Under its new ownership, AVT will maintain its brand name, identity, and product portfolio, said Esko.
Roy Porat, co-founder of Porat Itay with Yaron Itay, has previous experience with AVT, having been president at the company from 2020 until 2023. He stated that the deal represented the beginning of a new era for AVT.
He added, ‘Given my familiarity with the AVT business, I am confident that with the support of the associates globally, we will demonstrate the right strategic focus and commitment to investment to grow the business and serve our customers.’
Mr Depernet concluded, ‘With our commitment to drive value accretive growth within our culture at Esko, it became apparent that our strategic ambitions in packaging management, prepress workflow and flexo platemaking solutions hindered ambitions of the AVT print inspection business. Under new leadership, I am sure AVT has exciting times ahead. We wish the team the very best for the future.’
The deal is currently subject to customary conditions under applicable local law before closing.
