Oxford Metrics plc, a smart sensing software company, has acquired Industrial Vision Systems Ltd for £8.1 million.
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 non-contact vision systems provide well-known brands with quality control which ultimately lowers costs, improves brand reputation, competitiveness and increases safety.
Oxford Metrics services the life sciences, entertainment and engineering markets. The consideration of £8.1m is to be funded with existing cash resources and new ordinary Oxford Metrics shares.
“Today’s announcement strengthens our sense, analyse and apply strategy,” said Imogen Moorhouse (pictured), who was promoted to CEO of Oxford Metrics last month.
“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.”
IVS has a profitable track record over the past five years, driven by an average annual growth rate in revenues of 6%. In the year ended 28th February 2023 the business reported unaudited revenues of £3.4m and an EBIT of £800,000.
IVS co-founders Earl Yardley and Andrew Waller 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.”