ATS Corporation (TSX: ATS) (NYSE: ATS) (“ATS” or the “Company”) today announced that it has acquired Yazzoom BV (“Yazzoom”), a Belgium-based provider of artificial intelligence (“AI”) and machine learning (“ML”)-based tools for industrial production. The financial terms of the transaction were not disclosed.
Yazzoom will join ATS’ Process Automation Solutions (“PA”) business, a leading provider of automation and digitalization solutions for the process and manufacturing industries. With a strong focus on advanced data analytics for production process monitoring and optimization, Yazzoom will help accelerate PA’s strategy to drive productivity improvement through digital solutions. This acquisition will allow for an expanded value proposition through the use of integrated data for predictive analytics and insights to drive tangible improvements in production processes.
“Yazzoom broadens our process optimization and digitalization capabilities in key focus sectors,” said Dr. Christian Debus, President of PA. “Their strong expertise in advanced data analytics and AI and ML-based software solutions can be offered to our existing customers to add value to our current platform and domain knowledge. We are looking forward to welcoming the Yazzoom team to PA.”
“Being part of PA and ATS will enhance Yazzoom’s capability to deliver our solutions worldwide. Our technologies and capabilities complement each other, and will allow us to better serve customers that are looking for integrated software solutions for optimizing their production process” said Jan Verhasselt, CEO of Yazzoom.
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