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Technology Stocks : Elbit Vision Systems EVSNF
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From: midastouch0171/13/2006 2:52:44 AM
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>>EVS' CEO, Mr. Menashe Shohat, said: "This acquisition along with Mivtach Shamir' agreement enables EVS to leverage its industrial web inspection expertise to provide new technologies and new products to existing and additional industrial applications. This new technology will support the momentum we currently enjoy for our web and surface inspection products. I am proud that Panoptes has chosen to become our partner in implementing machine vision technology. Following the completion of the transaction, we hope to provide wider range of products, which should increase production output and faster ROI for the benefit of our customers."

Commenting on the transaction, Mr. Reuven Avital, Chairman of Panoptes said: "Through this transaction with EVS, Panoptes' products will benefit from increased distribution channels via the global marketing networks of EVS. This advantageous combination of the two experienced R&D teams will expand the market share for our state-of-the-art technology. I believe that the combination of technology, sales, marketing and customer support will enable us to become a leading provider of Automated Optical Inspection solutions." <<

biz.yahoo.com

Some insight:

These two companies have been fierce competitors, a lot of
bad blood between them due to cut-throat competition and
some other legal issues which were contested in court.

The secondary goal in the takeover was of course
the elimination of EVS strongest competitor.

The primary goal, naturally, to benefit from each others
stronger points.

Dubi
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