AUGUST 14, 2008--Vision software and technology provider Braintech (Auburn Hills, MI, USA;www.braintech.com) has acquired 100% of the ownership of robotic vision software designer and developer SHAFI Inc. (Brighton, MI, USA; www.shafiinc.com and 80% of the ownership of SHAFI Innovation Inc. (together SHAFI). As a result, Braintech will acquire key proprietary assets from SHAFI, providing Braintech with new opportunities to accelerate its expansion into markets including aerospace, consumer, food and beverage, government, medical, pharmaceutical, plastics, and semiconductors.
The purchase is a stock-for-stock transaction, with SHAFI owner Adil Shafi receiving Braintech common shares. Adil Shafi also joins Braintech as its chief operating officer and a member of its board of directors.
SHAFI Inc. and SHAFI Innovation Inc. will each become operating subsidiaries of Braintech. RELIABOT, SHAFI's branded product, will continue to be sold during a transition period until the technologies of the two companies are fully integrated. RELIABOT applications include autoracking and bin picking.
Braintech chief executive officer Rick Weidinger said, "We've consolidated two vital companies in what has been and largely remain a fragmented robotics vision software industry. We're much stronger together… We believe combining our technologies will accelerate our growth, expand and quicken our integrations, and increase our product offerings. It is always our goal to deliver better and better products to customers and markets."
The combined Braintech has more than 470 installations. Through SHAFI's installations, Braintech has gained access to 15 robotic manufacturers, four major vision supplier platforms, and an enhanced global distribution network of more than 100 integrators in the United States, Europe, Japan, India and China.
SHAFI president Adil Shafi will spearhead the technology of the combined company from Michigan, focusing on providing solutions development. He also will be responsible for the training and support of all enhanced solutions and technology as well as growing the company's USA engineering force.
Braintech will soon move its corporate headquarters to the Washington, DC area; its technology, support, training, and U.S. engineering offices to the Metropolitan Detroit area; and will continue with its leading-edge scientific research labs in North Vancouver, BC, Canada.
"As Braintech moves from a research-and-development-focused company to a market-driven operational company, the SHAFI acquisition will emphasize and accelerate this business development process for Braintech, saving the company many months of technical development and integration expenses," Weidinger commented.
"I look forward to contribute to the success of our customers, partners, employees, suppliers, and society in general," said Shafi. "Innovation in vision guided robotics promises to deliver much benefit to all of us in the years ahead."
