Atlas Copco (ATLCY.US), a global industrial group, and Isra Vision, a German leader in industrial machine vision recognition technology, have signed a business merger agreement (BCA) to create a new department for Isra Vision in industrial technology in the commercial sector, Zhitong Financial APP learned today.

As part of the agreement, Atlas Copco will acquire all outstanding shares of Isra Vision at a voluntary public purchase price of 50 euros per share. Atlas Copco has acquired a 34.9% stake through irrevocable commitments from major shareholders, including CEO and founder Enis Ersu, and through share purchase agreements with Kabouter Management and LLC.

Isra Vision will continue to operate under the same brand and will become a new division in the industrial technology business. Enis Ersu continues as CEO and facilitates integration.

Henrik Elmin, president of Atlas Copco's business unit, said that surface inspection and 3D machine vision are part of Atlas Copco's long-term strategy, and Isra Vision has a strong brand and market position. Through this cooperation, the company will increase its support for customers' transition to digital manufacturing in a number of areas.