Smart sensing software company Oxford Metrics plc has acquired Industrial Vision Systems Ltd for £8.1 million. IVS is an Oxfordshire-based company offering innovative machine vision systems that are used globally in automated production processes for high precision quality control, inspection, guidance, identification, measurement, tracking, and counting. IVS’ non-contact vision systems provide well-known brands with quality control solutions that ultimately lower costs, improve brand reputation, competitiveness, and increase safety.
The consideration of £8.1m is to be funded by existing cash resources and new ordinary Oxford Metrics shares. This acquisition strengthens Oxford Metrics’ sense, analyze and apply strategy. With IVS’s cutting-edge machine vision solutions, Oxford Metrics replaces traditional inspection methods with smart sensing, resulting in faster, more reliable, and highly accurate results. IVS enables well-known brands to stay updated with the latest machine vision automation.
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 and development.”
Oxford Metrics primary market focus is in the life sciences, entertainment, and engineering sectors. IVS has a profitable track record over the past five years, driven by an average annual growth rate in revenues of six percent. In the year ended 28th February 2023, the business reported unaudited revenues of £3.4m and an EBIT of £800,000.
The acquisition allows Oxford Metrics to extend into more applications and industries as inspection automation becomes more mainstream, and smart manufacturing becomes the standard, providing opportunities for greater growth and success.
