Esko Announces Planned Sale of Advanced Vision Technology to Porat Itay Holdings
GHENT, Belgium — Esko, a global provider of integrated software and hardware solutions that accelerate the go-to-market process of packaged goods, today announced the sale of its Advanced Vision Technology (AVT) print inspection business to Porat Itay Holdings, Ltd., (Porat Itay) with an anticipated closing of the transaction in Q1 2025, subject to any customary conditions under applicable local law. The divestiture includes assets, employees, contractual agreements and intellectual property specific to AVT. Under its new ownership, AVT will maintain its brand name, identity, and product portfolio.
Porat Itay is a private company based in Israel, founded by Roy Porat and Yaron Itay. Roy Porat had previously held the role of President, AVT from 2020 until 2022, and Yaron Itay has successfully built and led several industrial technology companies in Israel.
“Selling the print inspection business, enables AVT to operate with the strategic focus necessary to drive its growth and innovation,” said Joel Depernet, President, Esko. “With our commitment to drive value accretive growth within our culture at Esko, it became apparent that our strategic ambitions in packaging management, prepress workflow and flexo platemaking solutions hindered ambitions of the AVT print inspection business. Under new leadership, I am sure AVT has exciting times ahead. We wish the team the very best for the future.”
“We are very excited about this opportunity, as it is the beginning of a new era for AVT. Given my familiarity with the AVT business, I am confident that with the support of the associates globally, we will demonstrate the right strategic focus and commitment to investment to grow the business and serve our customers,” said Roy Porat.
Not an Offer of any Securities
The information in this communication is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.
About Esko
Esko, a Veralto company, is a global provider of integrated software and hardware solutions that digitize, automate and connect the go-to-market process of consumer goods. For CPG and Pharma brand owners, the Esko collaborative content creation platform for packaging, label, and marketing collateral equips marketing, branding, regulatory, and packaging teams to increase productivity, reduce costs, save time in their content processes, and consistently meet their deadlines for marketing and packaging projects. For packaging manufacturers, the Esko range of prepress, flexo platemaking and print inspection solutions connects people, processes and tools and brings consumer products to life with accuracy, quality, efficiency and speed. Packaging for 9 out of 10 major brands is produced by Esko customers. Headquartered in Gent, Belgium, Esko operates worldwide with a unique focus on packaging and labels the consumer can trust. For more information, visit esko.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management’s current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the closing of, and the anticipated benefits of, the transaction are forward-looking and involve risks and uncertainties. Esko and Advanced Vision Technology (AVT) disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.