Atlas Copco adds Neadvance to its portfolio

Atlas Copco, a Swedish global provider of sustainable productivity solutions, has acquired Portuguese software provider, Neadvance.

Covering a large range of industries, Atlas Copco develops innovative solutions across business areas including air compression, vacuum, industrial, and power techniques. The group encompasses over 70 brands and, in 2023, had revenues of BSEK 173.

Neadvance is a machine vision and intelligent systems company offering solutions for quality control and integrated vision systems to automate production lines within the industry. Focussed on Industry 4.0 and digital transformation, the company offers algorithms and platforms for identification, inspection, and machine control.

Neadvance, along with its 41 employees, will become part of the division Chicago Pneumatic Tools within the Industrial Technique Business Area. Henrik Elmin, President of this Business Area, commented “with this acquisition we are accelerating our capability for smart integrated assembly”.

The financial details of the deal have not been disclosed.