ISRA VISION - a specialist in inspection and 3D machine vision for industrial automation - is set to team up with Atlas Copco after a voluntary public takeover bid was made today (10 Feb 2020).
The move for ISRA VISION will boost Atlas Copco's focus on digital manufacturing technologies while meeting increased demand for quality inspection and flexible automation.
Atlas Copco already has 34.9% of shares of Germany headquartered ISRA VISION (including from CEO and founder Enis Ersü - who will stay on as CEO as the two integrate). The acquisitive group, which acquired German adhesive firm Scheugenpflug in October, made the offer at €50 per share in cash for the outstanding shares - the equivalent of $1.19 billion, according to Reuters.
ISRA VISION specialises in machine vision solutions with technologies for surface inspection and 3D vision for robot guidance, quality inspection and metrology through two business lines - Industrial Automation and Surface Vision. ISRA VISION has 25 locations and 800-plus employees.
“Surface inspection and 3D machine vision are part of Atlas Copco’s long-term strategy,” said Henrik Elmin, Business Area President Industrial Technique. “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.”
ISRA VISION CEO Enis Ersü added: “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.”
Atlas Copco recently celebrated 100 years in the UK and appointed Torque Solutions as its Smart Connected Bolting distributor.
