Advantech to acquire Bitflow
Bitflow, the US manufacturer of frame grabbers and image processing software, has entered into a definitive agreement to be acquired by Advantech, the Taiwan-based provider of embedded, industrial, Internet of Things (IoT) and automation solution platforms. The all-cash transaction is expected to close in Q4 2023.
Magic Pao, Associate Vice President of Industrial Cloud & Video Group at Advantech, suggested that the deal with help “Advantech […] to supplement high-end image acquisition products to fulfill the demands for high-precision advanced vision inspection.”
Bitflow’s CEO, Avner Butnaru, commented that “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.”
This latest acquisition in the machine vision sector is testament to the growing importance of AI-driven imaging tools for smart factories and IIOT applications. The industry, valued at US$3.9 billion in 2022, continues to enjoy double-digit growth, and is estimated to register a CAGR of 18% between 2023 and 2032[1].
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[1] Machine Vision Market Size & Growth Analysis, 2032 Report (gminsights.com)
