- Mycronic, Swedish supplier of electronic production equipment, acquires 100 percent of the shares in VIT S.A.S (Vi Technology), situated in Saint Egrève in France.
- The purchase price amounts to EUR 8 million on a debt free basis and will be financed through own funds.
- As part of the Mycronic Group, the French company gets access to sales network and service organization of Mycronic.
This acquisition is part of the growth strategy of Mycronic which has a long-term financial goal to reach net sales of SEK 5 billion (around EUR 513 million)
Vi Technology develops, manufactures, and sells solutions for inspection during the assembly process in PCB manufacturing. The company has delivered approximately 3,000 systems to 500 customers. Its offering includes equipments for solder paste inspection (SPI) and for automated optical inspection (AOI) of circuit boards.
Vi Technology has subsidiaries in Germany, Singapore and the United-States and have just under 100 employees.
The inspection equipment market, evaluated by Prismark around USD 610 million in 2016, is expected to have annual average growth of 5 percent.
In recent years, Vi Technology has invested in the development of next-generation 3D inspection solutions whose development costs have negatively impacted operating result.
The acquisition is effective immediately and consolidated in the Mycronic Group as of the acquisition date. The impact on the Group’s net sales and results in 2017 will be marginal.