STADTRODA, GERMANY - Allied Vision Technologies is acquiring 100% of the shares of the Canadian camera manufacturer Prosilica Inc. as of July 31, 2008. The participants have agreed to keep the purchase price confidential. As a result of this acquisition, Allied Vision Technologies and Prosilica create a product range of GigE and FireWire products and therefore extend their position in the area of digital cameras for industrial image processing.
Prosilica, which was founded in the year 2003, is a supplier in the industrial image processing market. The Vancouver, Canada firm develops, produces, and markets industrial cameras based on digital GigE technology. Through Prosilica, Allied Vision Technologies - a wholly-owned subsidiary of the technology enterprise AUGUSTA Technologie AG (ISIN DE000A0D6612) - gains immediate access to the important Gigabit Ethernet industrial camera market to expand its customer base in the most important world markets.
Both companies, AVT and Prosilica, have a history of strong growth in their markets. In future, the technology teams of both companies will be working on the further development of both FireWire and GigE interface camera systems, which will be sold under the brand names already established for the two companies. Further growth is expected through the intimate collaboration of the two companies in the areas of development, production, and sales.
At Prosilica, the entire founding team lead by CEO Marty Furse will remain in place unchanged and will work together with Allied Vision Technologies to further expand the business with GigE cameras and to implement new developments.
Allied Vision Technologies Acquires Prosilica
July 30, 2008