CAMBRIDGE,
ON, July 5, 2023 /CNW/ - 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.
About Yazzoom
Yazzoom was founded in 2011, and is a
Belgium-based provider of AI and
ML-based production process solutions with a strong focus on
advanced data analytics. Visit the company's website at
https://www.yazzoom.com/ for more details.
About Process Automation
Solutions
Process Automation Solutions GmbH is one of the
leading, manufacturer-independent suppliers of complete automation
solutions for the process, manufacturing, and automotive
industries. As a strong partner, PA's 1,400 automation experts in
Europe, America, and Asia support their customers during all phases
of automation from planning to implementation and commissioning –
and if desired, throughout the entire lifecycle of the plant
through aftersales service. Visit PA's website at
www.pa-ats.com.
About ATS Corporation
ATS Corporation is an industry-leading automation
solutions provider to many of the world's most successful
companies. ATS uses its extensive knowledge base and global
capabilities in custom automation, repeat automation, automation
products and value-added services including pre-automation and
after-sales services, to address the sophisticated manufacturing
automation systems and service needs of multinational customers in
markets such as life sciences, food & beverage, transportation,
consumer products, and energy. Founded in 1978, ATS employs over
6,500 people at more than 60 manufacturing facilities and over 80
offices in North America,
Europe, Asia and Oceania. The Company's common shares
are traded on the Toronto Stock Exchange and the New York Stock
Exchange under the symbol ATS.
Forward-looking
Statements
This press release contains certain statements
that may constitute forward-looking information and forward-looking
statements within the meaning of applicable securities laws
("forward-looking statements"). Forward-looking statements include
all statements that are not historical facts regarding possible
events, conditions or results of operations that ATS believes,
expects or anticipates will or may occur in the future, including,
but not limited to: expectations related to the positioning and
strengthening of each of PA and Yazzoom in the automation and
digitalization markets; and expectations related to each of PA's
and Yazzoom's productivity, digitalization capabilities, and value
propositions.
Forward-looking statements are inherently subject
to significant uncertainties, risks, and other factors that could
cause the actual results, performance, or achievements of ATS,
or developments in ATS' business or in its industry, to differ
materially from those discussed in the forward-looking statements.
Important factors that could cause actual results to differ
materially from expectations include, but are not limited to, the
impact of regional or global conflicts; general market performance
including capital market conditions and availability and cost of
credit; performance of the markets that ATS serves; industry
challenges in securing the supply of labour, materials, and, in
certain jurisdictions, energy sources such as natural gas; impact
of inflation; interest rate changes; foreign currency and exchange
risk; the relative strength of the Canadian dollar; risks related
to customer concentration; risks related to a recession, slowdown,
and/or sustained downturn in the economy; impact of factors such as
increased pricing pressure, increased cost of energy and supplies,
and delays in relation thereto, and possible margin compression;
the regulatory and tax environment; the emergence of new infectious
diseases and pandemics, including the potential resurgence of
COVID-19 and/or new strains of COVID-19 and collateral consequences
thereof, including the disruption of economic activity, volatility
in capital and credit markets, and legislative and regulatory
responses; the effect of events involving limited liquidity,
defaults, non-performance or other adverse developments that affect
financial institutions, transaction counterparties, or other
companies in the financial services industry generally, or concerns
or rumours about any events of these kinds or other similar risks,
that have in the past and may in the future lead to market-wide
liquidity problems; energy shortages and global prices increases;
the expectations related to positioning and strengthening PA and/or
Yazzoom in the automation and digitization markets, or in relation
to the each of their productivity, digitalization capabilities,
and/or value propositions, are not realized as expected or at all;
and other risks and uncertainties detailed from time to time in
ATS' filings with securities regulators, including, without
limitation, the risk factors described in ATS' annual information
form for the fiscal year ended March 31,
2023, which are available on the System for Electronic
Document Analysis and Retrieval ("SEDAR") and can be accessed at
www.sedar.com. ATS has attempted to identify important factors that
could cause actual results, performance, or achievements to vary
from those current expectations or estimates expressed or implied
by the forward-looking statements. However, there may be other
factors that cause results, performance, or achievements not to be
as expected or estimated and that could cause actual results,
performance, or achievements to differ materially from current
expectations.
Forward-looking statements are necessarily based
on a number of estimates, factors, and assumptions regarding, among
others, management's current plans, estimates, projections, beliefs
and opinions, the future performance and results of the Company's
business and operations; the ability of ATS to execute on its
business objectives; and general economic and political conditions,
and global events, including the COVID-19 pandemic.
Forward-looking statements included in this press
release are only provided to understand management's current
expectations relating to future periods and, as such, are not
appropriate for any other purpose. Although ATS believes that the
expectations reflected in such forward-looking statements are
reasonable, such statements involve risks and uncertainties, and
undue reliance should not be placed on such statements. ATS does
not undertake any obligation to update forward-looking statements
contained herein other than as required by law.
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SOURCE ATS Corporation