Atlas Copco Group has acquired software company Neadvance Machine Vision (Neadvance).
Based in Portugal, Neadvance offers solutions for quality control and integrated vision systems to automate production lines within the industry. After the acquisition, Neadvance will be part of the division Chicago Pneumatic Tools within the Industrial Technique Business Area. A total of 41 employees from Neadvance will join Atlas Copco Group as part of the acquisition.
Both companies did not disclose the purchase price. In 2023, Neadvance had revenues of approximately €2.5 million.
“With this acquisition, we are accelerating our capability for smart integrated assembly,” said Henrik Elmin, Business Area President of Industrial Technique at Atlas Copco Group.
Atlas Copco Group acquired multiple businesses in recent months. For example, it added VisionTools Bildanalyse Systeme GmbH (VisionTools) to its portfolio, a German company that develops and sells integrated solutions for quality control in assembly lines.