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Atlas Copco Acquires Perceptron

Atlas Copco and Perceptron have entered into an agreement for Atlas Copco to acquire Perceptron, a leading supplier of automated metrology solutions, for USD 7.00 per share. The company is headquartered in the United States and listed on the NASDAQ stock exchange in New York.

“Flexible automation and in-line quality control on the production line are two strong trends where we want to support our customers in their transition towards digital manufacturing”, said Henrik Elmin, Business Area President Industrial Technique. “Through Perceptron’s position in automated metrology and robot guidance, together with the recent acquisition of ISRA VISION, we are creating a strong offering in machine vision solutions and extending the Smart Factory Automation business segment.”

Perceptron has approximately 300 employees and is headquartered in Plymouth, Michigan, USA. In the fiscal year 2020 Perceptron had revenues of MSEK 569 (MUSD 62.3). Atlas Copco will pay USD 7.00 per share, corresponding to an enterprise value of MSEK 573 (MUSD 62.7), including MSEK 57 (MUSD 6.2) of assumed net cash on hand. The total purchase price will be MSEK 630 (MUSD 68.9). The offer represents a premium of 66% to Perceptron’s 30-day average closing share price of USD 4.22 up to September 25, 2020, the last trading day prior to this announcement.

“The acquisition of Perceptron will enable us to increase our customers’ productivity through best-in-class quality control and an increased automation level”, said Henrik Elmin. “Perceptron has almost 40 years of experience as a leading global provider of 3D automated measurement solutions. There are several identified synergies in sales, operations, service and technology development from Perceptron joining the Machine Vision Solutions division.”

The transaction will be completed by way of a negotiated statutory merger. It has been approved by the Boards of Directors of both companies. Additionally, Perceptron’s largest shareholder, affiliates of Harbert Management Corporation, has signed a Voting and Support Agreement in favor of the proposed transaction. Subject to majority approval by Perceptron shareholders, customary closing conditions and regulatory approvals, the transaction is expected to close in the fourth quarter of 2020.

The acquisition is an all-cash transaction utilizing Atlas Copco’s existing own funds. Perceptron will become part of Atlas Copco’s newly created division Machine Vision Solutions within the Industrial Technique business area.

About Atlas Copco Group

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 and about 39 000 employees at year-end. Revenues of BSEK 104/BEUR 10 in 2019. For more information, visit www.atlascopco.com.