Advantech seeks to acquire BitFlow
EP&T MagazineAutomation / Robotics Electronics IoT AI IoT Manufacturing
Companies to leverage imaging technology synergies to target AI-powered machine vision in Industry 4.0 environments
BitFlow Inc., an innovator in frame grabber technology for the machine vision industry, announced that it has entered into a definitive agreement to be acquired by Advantech in an all-cash transaction representing a 100% equity stake in the company. The transaction was unanimously approved by BitFlow’s Board of Directors and is expected to close during the fourth quarter of 2023.
Advantech is a global player in embedded, industrial, Internet of Things (IoT), and automation solution platforms headquartered in Taipei, Taiwan, with more than 80 office locations worldwide. Advantech has been a pioneer in integrating Artificial Intelligence (AI) into machine vision systems that transform traditional inspection processes into self-learning Smart Factory applications to improve profitability, drive innovation, and optimize operational efficiency. AI-powered imaging systems go beyond high-quality automated inspection to opportunities for generating information to determine root cause failures, independently measure key performance measures, predict maintenance requirements that reduce costly downtime, and increase the visibility of supply chains, among numerous other value-adding services.
Advantech’s manufacturing capability is crucial to BitFlow
“The choice to cooperate with Advantech was based on several key factors, including Advantech’s well-known global brand presence in machine vision applications in North America, as well as its global industrial hardware supply capabilities and complete after-sale support and services,” said Avner Butnaru, CEO of BitFlow. “Advantech’s manufacturing capability is also crucial to BitFlow. In addition, because of similar corporate cultures, the impact on customers brought about by the integration of Advantech and BitFlow will be greatly reduced. BitFlow believes that by combining its advanced imaging technology and Advantech’s R&D, sales and manufacturing capabilities, BitFlow products will play a much greater role in the AI vision market.”
Upon completion of the transaction, research and development teams for BitFlow and Advantech’s North American business development team will work together to launch innovative new 2D and 3D network devices for the industrial imaging market and fast-emerging AI vision sectors.