ITIS Holding (Prague, Czech Republic) recently completed its acquisition of VITRONIC Group (Wiesbaden, Germany), developer of sector-specific machine-vision automation solutions.
The companies first announced the acquisition plans on January 31, 2024.
ITIS Holding, which is owned by PPF Group (Prague, Czech Republic), bought family owned VITRONIC to expand its presence in automation solutions involving machine vision technology.
VITRONIC designs and sells automation solutions in such industrial sectors as traffic management, logistics, automotive, medical devices, and solar cells.
PPF Group, an investment group founded in 1991, launched ITIS in 2022 as an umbrella for the group’s investments in smart transportation technology, including electronic toll systems and related payment solutions.
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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.”
Machine Vision Solutions in Manufacturing, Logistics, and Smart Cities
VITRONIC’s solutions use machine vision to automate industrial tasks. In warehousing and distribution, for example, it sells solutions to read codes and plain text on packages traveling on conveyors during incoming and outgoing processes at distribution centers. In the medical device arena, VITRONIC sells solutions to inspect insulin pens, IV bags, transdermal patches, and medicine vials. And in traffic management, the company sells solutions to enforce compliance with traffic signals and speed limits as well as collect tolls and restrict vehicle access to certain zones.
VITRONIC’s notable customers include B. Braun (Melsungen, Germany), a medical device company, BMW (Munich, Germany), Sanofi (Paris, France), a pharmaceutical company, Daimler (Stuttgart, Germany), DHL (Bonn, Germany) and UPS (Atlanta, GA, USA).
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Founded in 1984, VITRONIC employs 1,400 people, including 900 located at the company’s headquarters in Wiesbaden. Its annual revenues are €208 million.
