Key Technology will acquire Visys, a Belgian maker of digital sorters, in a deal valued at USD 21 million (EUR 16 million), the US process automation specialist said.

“Combining the two companies provides our broad global customer base with an unprecedented mix of products, solutions and services,” said Key Chief Executive Officer Jack Ehren. Visys will receive USD 13 million in cash, 600,000 common shares of Key and 250,000 Key warrants, the company said. The deal is expected to be closed 28 Feb.
Visys CEO Frank Zwerts will become president of the Key business segment for Europe, the Mideast, India and Africa, Key said. Visys will be a wholly owned subsidiary retaining its headquarters in Hasselt, Belgium. Key is headquartered in Walla Walla, WA. The combined company will have 560 employees worldwide. (ci)