Isra Vision AG, a German supplier of software for machine vision systems, has acquired US Image Automation Inc. (IAI) through its US subsidiary Isra Surface Vision Inc., Isra Vision said in a press re…
Isra Vision AG, a German supplier of software for machine vision systems, has acquired US Image Automation Inc. (IAI) through its US subsidiary Isra Surface Vision Inc., Isra Vision said in a press release on 17 January 2007. The newly acquired firm is a sister company of British enterprise IAL Ltd., which Isra Vision took over in December 2006. The agreed purchase price for both companies is approximately half of their annual sales volumes. The two firms have combined sales of more than EUR 2 million (USD 2.587 million) a year. The takeover will be financed through some of the proceeds of Isra Vision“s 2006 capital increase. The two companies will keep their management teams. Following completion of the full acquisition of British competitor Image Automation Ltd., the parent company of both IAL and Image Automation Inc., Isra Vision has become the global innovation and market leader in the glass sector, according to the company. The acquisition will strengthen the company“s presence in the United States and the UK. Isra Vision is currently in talks with other companies concerning possible mergers in the future.