Agellis Group has acquired the rights to all products based on infrared camera technology from the Swedish company Metsol. The products acquired are based on IR (infrared) camera technology that is used in a variety of measurement applications in the steel and non-ferrous industries. The acquired products complement Agellis’ existing products based on the EMLI platform and clear synergies in sales can be seen when the acquired products are introduced in Agellis’ existing agent network around the world.
“We have had many years co-operation with Metsol and have identified an increased interest from our customers in products based on infrared technology. The acquired products fit well into our existing product portfolio. Both IR and EMLI products are demanded by the same customers”, says Patrik Bloemer, CEO of Agellis. “With this deal the acquired products will get access to the Agellis global agent network which already has a good relationship with potential customers and a fast track to reach an international market, says Mårten Görnerup, CEO of Metsol. By using our existing Scandinavian references an international introduction can immediately begin.”
Photo courtesy of Agellis Group AB
The fixed purchase price for the product rights amounted to approx. EUR 17,000 paid in cash and 702,000 newly issued non-cash shares. Metsol is also entitled to a variable additional purchase price based on Agellis’ future sales of the products.
