LONDON, UK: Oxford Metrics plc (LSE: OMG) has entered into an agreement to acquire Industrial Vision Systems Ltd (IVS), specialists in developing machine vision software and technology for high precision, automated quality control systems used across numerous industries.
The consideration of £8.1 million is to be funded with existing cash resources and new ordinary Oxford Metrics shares.
Based in Oxfordshire, IVS’ innovative machine vision systems are used globally in automated production processes for high precision quality control, inspection, guidance, identification, measurement, tracking and counting. Its highly accurate, non-contact vision systems provide well-known brands with quality control which ultimately lowers costs, improves brand reputation, competitiveness and increases safety.
Imogen Moorhouse, CEO of Oxford Metrics, commented: “Today’s announcement strengthens our sense, analyse and apply strategy. Through its cutting-edge machine vision solutions, IVS replaces traditional inspection methods with smart sensing. This results in faster, more reliable, and highly accurate results, providing well-known brands with the latest machine vision automation.
“I am delighted to welcome IVS to Oxford Metrics. With more and more manufacturers demanding this innovation to revolutionise processes, ensure quality products and provide more efficient, error-proof production, we are excited about the opportunity ahead to extend into yet more applications and industries as inspection automation becomes more mainstream and smart manufacturing becomes the standard.”
Co-founders Earl Yardley and Andrew Waller, Industrial Vision Systems, said: “Oxford Metrics is the only home we considered because it shares our company culture and values and has a proven track record of taking great technology forward by nurturing and developing it. We are on a mission to make companies more efficient, highly flexible and quicker with our machine solutions. As part of Oxford Metrics, we will continue to develop and broaden our technology offering with an ongoing focus on innovation and research & development.”
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