EconomyEditor's PickNewsSweden’s Atlas Copco agrees to buy Perceptron to expand into machine vision

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imageStock Markets10 minutes ago (Sep 28, 2020 08:10AM ET)

(C) Reuters. FILE PHOTO: Atlas Copco headquarters are pictured outside Stockholm

By Johannes Hellstrom

STOCKHOLM (Reuters) – Sweden’s Atlas Copco (ST:ATCOa) said on Monday it had agreed to buy U.S group Perceptron (O:PRCP), a supplier of automated metrology products, for 630 million Swedish crowns ($69 million) to expand in machine vision and factory automation.

The cash offer of $7.00 per share for Nasdaq-listed Perceptron (O:PRCP) represents a 71% premium to its closing price on Monday, and comes after Atlas bought German machine vision group Isra Vision (DE:ISRG) earlier this year in a $1.19 billion deal.

“Through Perceptron’s position in automated metrologyand robot guidance, together with the recent acquisition of Isra Vision, we are creating a strong offering in machine vision solutions,” Henrik Elmin, Head of Atlas Copco’s business area Industrial Technique, said in a statement.

The proposed cash deal, approved by Perceptron’s board, and supported by its biggest shareholder, is expected to close in the fourth quarter subject to majority approval by Perceptron’s shareholders and regulatory approvals.

Atlas Copco’s acquisition of Isra earlier this year has been seen by several analysts as a first building block to expand further in machine vision.

Atlas, Sweden’s most valuable listed company, said Perceptron would become part a newly created division Machine Vision Solutions within its Industrial Technique business area.

($1 = 9.0726 Swedish crowns)

Sweden’s Atlas Copco agrees to buy Perceptron to expand into machine vision

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