Atlas Copco has requested a squeeze out of minority shareholders in ISRA VISION AG
Nacka, Sweden, August 3, 2020: Atlas Copco today announced the intention to carry out a merger of ISRA VISION into Atlas Copco and in connection with that has requested a squeeze-out of the minority shareholders.
The voluntary public takeover offer of the global machine vision specialist was announced February 10, 2020. The settlement took place June 24th and Atlas Copco Germany Holding AG, the legal entity created for the takeover offer, holds 92.19% of the shares in ISRA VISION.
As a next step, Atlas Copco Germany Holding AG, today informed the management board of ISRA VISION AG of its intention to carry out a merger of ISRA VISION into Atlas Copco Germany Holding AG, and in connection with that has requested a squeeze-out of the minority shareholders. The minority shareholders of ISRA VISION will receive an adequate cash compensation in exchange for the transfer of their shares.
In connection with the merger, the newly created Atlas Copco Germany Holding AG will relocate its seat from Essen to Darmstadt and will be renamed ISRA VISION AG. The governance structure and memberships in management board and supervisory board will be arranged as foreseen in the Business Combination Agreement between Atlas Copco and ISRA VISION. In the course of the merger, all employees will transfer to new ISRA VISION by operation of law.
ISRA VISION specializes in machine vision solutions with leading technologies for surface inspection and 3D vision for robot guidance, quality inspection and 3D metrology operating through two business segments, Industrial Automation and Surface Vision. The company has a global presence with operations in over 25 locations and more than 800 employees and is headquartered in Darmstadt, Germany.
As previously communicated, ISRA VISION will continue to operate under the same brand with its headquarter in Darmstadt and has now become a new division within the Industrial Technique business area.
For more information, please contact:
Sara Liljedal, Media Relations Manager
+46 8 743 8060 or +46 72 144 1038
Daniel Althoff, Vice President Investor Relations
+46 8 743 9597 or +46 76 899 9597
Atlas Copco Group
Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind.
Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries. In 2019, Atlas Copco had revenues of BSEK104 (BEUR 10) and at year end about 39 000 employees. For more information: www.atlascopcogroup.com