Perceptron Takes Leadership Position in Market for Coordinate Measuring Machines With Transactions Valued at $15.9 Million;

PLYMOUTH, MI--(Marketwired - Jan 29, 2015) - Perceptron Inc. (NASDAQ: PRCP), a leader in non-contact 3D machine vision solutions for industrial measurement, inspection, and robot guidance applications, today announced that it has reached agreement to acquire two European metrology companies:

• Coord3® Industries s.r.l., a leading mid-market designer and manufacturer of a full range of high-quality and high-performance Coordinate Measurement Machines (CMM), based in Turin, Italy.
• Next Metrology Software s.r.o., a technical leader in CMM operating software and the developer of TouchDMIS™, based in Prague, Czech Republic.

The NMS acquisition closed on January 29. The Coord3 acquisition is expected to close in February 2015, subject to customary closing conditions. The total value of the transactions will be approximately $15.9 million, in a combination of cash and assumed debt. The combined companies have approximately $15 million in annual revenue. Management expects the transactions will be accretive by the end of fiscal 2016.

Jeffrey M. Armstrong, chief executive officer of Perceptron, said, "The acquisitions of Coord3 and Next Metrology illustrate the progress we are making to implement our strategic plan. These transactions expand and diversify our offerings in the industrial metrology market, and particularly in the scanning CMM market, which is estimated to be growing at a 15 percent annual rate. According to Frost & Sullivan, global CMM sales are estimated to exceed $1.8 billion in 2015, with automotive CMM sales at approximately $625 million and aerospace CMM sales at approximately $350 million. By offering a compelling solution in this marketplace, we believe we can help expand the overall market while increasing our share of the total."

Armstrong continued, "Coord3 is a leading, innovative supplier of a full range of CMMs with a growing global customer base. Notably, it is one of only two companies in the world able to design and manufacture gantry-style CMMs used to measure very large equipment such as aircraft wings, complete car bodies and railcar frames. By combining the full range of Coord3's CMMs with Perceptron's laser scanners and NMS's easy-to-use TouchDMIS™ CMM operating software, Perceptron moves into a market leadership position, able to offer price-competitive, fully integrated CMM solutions worldwide."