Balluff acquires two companies to extend digitalization expertise
Sept. 20, 2017
The Stuttgart software company iss innovative software services and the machine vision-focused Matrix Vision are now under the Balluff banner
Balluff has announced that it has acquired the Stuttgart software company iss innovative software services and the machine vision company Matrix Vision (MV). Contracts were signed in July and August after nearly six months of negotiations.
Approximately 160 employees will join the family-owned company, with the sites in Stuttgart-Vaihingen and Oppenweiler remaining.
According to Balluff, the two new companies enhance Balluff's core competences in software development and machine vision.
"Linking our network technology with the software expertise of the two companies will particularly improve our capability for supplying integrated automation solutions from one provider," said managing director Florian Hermle. "The know-how of iss and Matrix Vision and their employees will help us capitalize on the huge growth opportunities in digitalization faster, while extending our portfolio in the hardware and software areas."
In 2016 Balluff increased its revenues by 3.3 percent. Now, including the new acquisitions, Balluff employs 3,550 people at 37 sites worldwide. While Balluff acquired 100 percent ownership of iss innovative software services, 25 percent of Matrix Vision's shares remain in the ownership of the previous shareholders.
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