JULY 30, 2008--Allied Vision Technologies (Stadtroda, Germany; www.alliedvisiontec.com), a manufacturer of FireWire industrial cameras, is acquiring 100% of the shares of Prosilica (Vancouver, BC, Canada; www.prosilica.com). The sale is effective as of July 31, and the participants have agreed to keep the purchase price confidential.
As a result of this acquisition, Allied Vision Technologies and Prosilica expect to create an industry-leading product range of Gigabit Ethernet (GigE) and FireWire products and extend their market position in the area of digital cameras for industrial image processing. Prosilica was founded in 2003, and develops, produces, and markets industrial cameras based on GigE technology. Allied Vision Technologies, founded in 1989, is a wholly-owned subsidiary of the technology enterprise AUGUSTA Technologie (Munich, Germany; www.augusta-ag.de).
The FireWire and GigE interface camera systems of the two companies will be sold under the established brand names. Further growth is expected through collaboration 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 with Allied Vision Technologies to further expand the business with GigE cameras and to implement new developments.
Frank Grube, president and CEO of Allied Vision Technologies, said, "In Prosilica we have found the perfect complement to Allied Vision Technologies. The cameras from Prosilica represent an excellent strategic extension to our existing product. At the same time, this acquisition allows us to offer our customers a broad product portfolio, enabling us to further expand our market position in North America, Europe, and Asia."
