DECEMBER 7--ISRA VISION (Darmstadt, Germany; www.isravision.com), a supplier of machine-vision systems, has acquired the British company IAL Ltd. and is at an advanced stage of negotiations to acquire IAL's sister company in the USA. The newly completed acquisition means ISRA further expands both its position as a market leader in the glass division and its presence in the UK and Ireland. In doing so, ISRA continues to follow the company's successful expansion strategy.
IAL emerged from the English company Image Automation, a competitor for ISRA in the glass division. Image Automation used laser scanner technology. The company went into receivership in spring 2006. The London-based successor company IAL is led by manager John Claridge and provides ISRA with a good foundation for growth in the UK and Ireland markets. As of now, John Claridge will look after the entire British and Irish market for ISRA.
Part of the cash received through the equity increase in spring 2006 will be used to finance the acquisition. Under the terms of the purchase agreement, shares will not be used as payment. Consequently, ISRA's earnings will not be diluted. The purchase price is linked to an earn-out model and is to be paid in installments.
For the fiscal year 2006/2007 beginning October 1, 2006, ISRA plans double-digit growth in turnover and profits. The group's provisional figures for the previous fiscal year 2005/2006 will be published on December 15, 2006.
