ISRA VISION CEO Enis Ersü initiates succession plan by forming a strategic partnership with Atlas Copco
(PresseBox) - ISRA VISION AG (ISIN: DE 0005488100), the SDAX Machine Vision company and one of the world''s leading providers of surface inspection solutions and 3D machine vision and the Swedish-listed global industrial group Atlas Copco have signed a Business Combination Agreement (BCA) to enter into a strategic partnership. For ISRA, the strategic partnership not only represents a way to further accelerate the growth and innovation path of the company but also the favourite succession plan for its founder and CEO Enis Erscent of shares in ISRA, have signed irrevocable undertakings to tender their shares. Overall, Atlas Copco has secured approx. 35 percent of all outstanding ISRA shares via irrevocable undertakings and a share purchase agreement with an institutional investor. Upon completion of the public tender offer a delisting offer is planned to follow.
ISRA with its business areas Surface inspection and 3D machine vision is part of the long-term strategy of the new partner, and the objective is to grow the business further. With the BCA, ISRA and Atlas Copco also agreed on important cornerstones of the partnership that secure the interests of customers and employees of ISRA.
Atlas Copco is headquartered in Stockholm with customers in more than 180 countries and about 39,000 employees. In 2019, Atlas Copco achieved revenues of 104 bn. SEK (approx. 10 bn. EUR). The Group has been present in Germany for more than 65 years and has successfully integrated many companies in Germany and around the globe.Machine vision is a key technology that enables customers across industries to digitalize production and is part of Atlas Copco?s long-term strategy. Therefore Atlas Copco wants to further strengthen its focus on industrial automation and create a Machine Vision division. ISRA will become the nucleus of this new division in Atlas Copco?s business area Industrial Technique, which provides industrial automation systems and solutions, quality assurance products and industrial software through a global network.
The strategic partnership provides ISRA with a unique platform to accelerate further growth and represents the ideal solution to Enis Ersnd made it into the global leader it is today, will stay on as CEO for partnering and integration.
The strategic partnership will be implemented via a friendly tender offer by Atlas Copco. ISRA shareholders tendering their shares will receive EUR 50.00 per share in cash, representing a premium of approx. 43 percent on the closing share price of February 7, 2020 and an EV/EBIT multiple of approx. 33x based on ISRA VISION?s reported 2018/2019 EBIT. The offer has the full support from both the Management Board and the Supervisory Board of ISRA. Atlas Copco has already secured approx. 35 percent via irrevocable undertakings from major shareholder Enis Ers is planned to launch a delisting offer, which is supported by ISRA?s Management and which does not require any minimum shareholding thresholds under German law.
For more information about the offer, see the deal website: www.technology-offer.com.
ISRA VISION AG, together with its subsidiaries, is worldwide leading in surface inspection of web materials. Furthermore, it is one of the globally leading providers of machine vision programs, specialising in the area of 3D machine vision, in particular for "3D robot vision".
The core competence of the Company is the ISRA-BrainWAREfor visualising systems that imitate the human eye. Today''s ISRA applications focus primarily on the automation of production and quality assurance of goods and products supplied to large, future-oriented markets such as energy, healthcare, food, mobility and information. The customers mainly include renowned global players from the respective sectors.
Further information are available at www.isravision.com.
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ISRA VISION AG, together with its subsidiaries, is worldwide leading in surface inspection of web materials. Furthermore, it is one of the globally leading providers of machine vision programs, specialising in the area of 3D machine vision, in particular for "3D robot vision".The core competence of the Company is the ISRA-BrainWARE®, an innovative software for intelligent machine vision systems. Here, the scientific know-how from the fields of optics, lighting technology, surveying technology, physics, image processing and classification algorithms and a complex system design are combined. Machine vision is a key technologyfor visualising systems that imitate the human eye. Today''s ISRA applications focus primarily on the automation of production and quality assurance of goods and products supplied to large, future-oriented markets such as energy, healthcare, food, mobility and information. The customers mainly include renowned global players from the respective sectors.Further information are available at www.isravision.com.
Datum: 10.02.2020 - 02:28 Uhr
Sprache: Deutsch
News-ID 1555812
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