Antares Vision Buys Applied Vision

The Antares Vision Group – through its wholly owned subsidiary, Antares Vision, Inc. – has increased its capabilities through the strategic acquisition of Applied Vision Corporation – provider of high-speed vision inspection systems for glass and metal food and beverage container industry. Antares Vision’s strategy of expanding its technological leadership to encompass the entire spectrum of inspection process services continues with the incorporation in its offer the competencies and technologies of the world leader in the inspection of metal and glass containers. Antares further strengthens its position in the food & beverage sector and expands its geographical penetration, especially in the USA.

Headquarters at 2020 Vision Lane
Akron, Ohio (Source: Applied Vision)

Founded by Amir and Manijeh Novini in Akron, Ohio, in 1997, Applied Vision has been designing and developing machine vision solutions based on solid optical competencies, innovative lighting, electronic image sensing, along with digital image processing and artificial intelligence algorithms for over twenty years. The Company is headquartered in North America and employs over a hundred specialized individuals including a strong management team. In addition to selling in the US, Applied Vision exports its products to South America, Asia, Europe, Australia, the Middle East and Africa. Their proprietary imaging technology together with an advanced technological know-how, has enabled Applied Vision to become a world leader in metal container inspection in the food & beverage segment, setting new market quality standards. Through its technological leadership in the sector and the use of AI (including the development of proprietary AI self-learning algorithms) Applied Vision ensures optimal inspection effectiveness on the fastest, most advanced production lines, regardless of container complexity.

Emidio Zorzella, chairman and CEO of Antares Vision: “Thanks to the strategic acquisition of Applied Vision and FT System, the Antares Vision Group is becoming a main technological partner in the entire food & beverage supply chain, in both setting and offering the highest quality standards, and supporting technological development in track and trace products, optimizing production processes. Applied Vision shares the same distinctive values as the Antares Vision group and the synergy between Antares Vision’s and Applied Vision’s management has made the difference from the outset, representing a solid platform for the future growth path. With today’s transaction we are consolidating our role as an aggregator of excellent companies that are growing rapidly and have the most advanced technologies globally.”

Amir Novini, president and CEO of Applied Vision states, “The philosophy and synergies shared between Antares Vision and Applied Vision created the perfect opportunity to allow continued growth and success of the Applied Vision legacy under the leadership of the Antares management team.”

In 2019 Applied Vision reported consolidated revenues of 28.4 million dollars (49 % of which was generated outside of the US), an adjusted EBITDA of $4.1M and a net cash position at closing of $1.7M. Consolidated revenues recorded a CAGR 2017–2019 of 15 %. (Source: Antares Vision)

Links: Applied Vision Corporation, Akron, OH, USAANTARES VISION S.p.A., Travagliato, Brescia, Italy

 

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