Acquisition of Machine Vision Company VITRONIC Group Completed
Summary
ITIS Holding (Prague, Czech Republic) recently completed its acquisition of VITRONIC Group (Wiesbaden, Germany), developer of sector-specific machine-vision automation solutions. VITRONIC designs and sells automation solutions in such industrial sectors as traffic management, logistics, automobiles, pharmaceutical and medical devices, and solar cells. With the acquisition of VITRONIC, PPF Group is expanding ITIS Holding’s focus beyond transportation. As Matej Okali, CEO ITIS Holding, explains, “Our aim is to grow the machine vision technology overall and build the market leading end-to-end solution provider,” he says. “PPF is investing 50 Mio (million) EURO into VITRONIC’s capital structure to push the R &D specifically for innovation, specifically in future topics like sustainability, AI, etc.” Daniel Scholz-Stein, CEO VITRONIC Group, adds, “They have confidence in the VITRONIC technology, the approach, and the long-term customer relationships and see a large potential for greater revenues with strong margins, specifically in some automation sectors.”