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PPT will maintain its Minneapolis headquarters, with a network of sales partners, distributors and integrators around the world, according to Bob Heller, who will continue as president and CEO, reporting to Piazzi.
“Today’s announcement marks a bold step forward in executing PPT’s goal to be the best in the world in machine vision solutions for manufacturing companies,” said Heller. “The partnership provides both organizations with stronger global sales channels, additional product development resources and industry leadership positions in automation and machine vision.”
Datalogic is a solutions provider and producer of bar code readers, data collection mobile computers, RFID and vision systems, according to Heller. “Datalogic’s ID and bar coding technologies and vision sensors are highly compatible with PPT’s strengths in high-performance, embedded vision systems,” he said. “Our organizations are already collaborating on new technologies, to be introduced in first quarter 2012, that expand our broad product road map to fully serve today’s growing machine vision market.”
Datalogic reported the value of the transaction at $5.2 million, financed with internal capital resources. A significant portion of PPT’s value was in intangible assets, including patents, trade secrets, copyrights and other intellectual property rights, as well as a large portfolio of customers and strategic partners. Tamburi Investment Partners acted as financial advisor for the transaction, which is expected to close in December.