Perceptron Receives Frost & Sullivan 2021 Global Enabling Technology Award

Perceptron® Lauded by Frost & Sullivan for Enhancing the Manufacturing Inspection Process with Its Automated Solution with AccuSite®

AccuSite shortens customer launch times by eliminating the need for time-consuming data correlation

Based on its recent analysis of the global automated assembly inspection and in-line metrology market, Frost & Sullivan recognizes Perceptron, Inc. with the 2021 Global Enabling Technology Leadership Award. AccuSite Optical Tracking (AccuSite) achieves coordinate measuring machine (CMM) level accuracy for in-line robotic measurement. This automated, contactless metrology solution that maintains high inspection quality at full production speed has positioned Perceptron as a leading market contender.

“In a cell, AccuSite’s architecture can support eight robots with up to ten trackers, which are all connected to deliver maximum flexibility in system design,” said Mariano Kimbara, Senior Industry Analyst. “Traditional robotic measurement solutions are limited by robot accuracy, repeatability, and stability. AccuSite eliminates all error from the robot to provide accurate measurements in real-time. It also removes the need for CMM correlation as it continuously provides traceable measurement results in accordance with ISO-10360 standards.”

AccuSite is easy to deploy and can achieve system-level accuracy of less than 0.150 mm when combined with a Helix-evo sensor. This metrology-grade accuracy expands the use cases for Perceptron’s in-line and near-line measurement and robot guidance applications. Perceptron continues to penetrate other industries where accurate in-line inspection increases productivity by being the most cost-effective way to ensure and improve build quality without removing parts from the manufacturing process to be measured offline.

With the addition of AccuSite to its product portfolio, the company has also extended its automated assembly solutions where robot position is critical to the guidance operation. In one production solution, Perceptron worked closely with a partner to use AccuSite to fine-tune a robot’s final location before attaching door hinges to the automotive car body. Adding AccuSite to the assembly process significantly improved the customer’s door alignment and fit within the car opening.

“Perceptron has developed one of the industry’s fastest and most optimal solutions to address customers’ current needs,” noted Kimbara. “By supporting multiple applications and continuing to enhance the solution’s feature set, Perceptron has future-proofed its business and earned a vital edge in the market.”

Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that enhances current products and enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

Anders Hoberg Appointed as Perceptron CEO and Growing the Team

PLYMOUTH, Mich., Feb. 25, 2021 — Perceptron, Inc., a leading global provider of 3D automated metrology solutions and coordinate measuring machines, today announced that Mr. Anders Hoberg accepted the appointment for the position of Chief Executive Officer at Perceptron.

Mr. Hoberg commented, “I am honored to be appointed as Perceptron’s CEO and excited to mentor, lead, and develop the growth potential of Perceptron in the US. Our focus is fully integrating Perceptron into the Atlas Copco culture with a focus on market expansion for all of our machine vision solutions.”

Atlas Copco completed the purchase of Perceptron on 21 December 2020. Since the purchase, Atlas and Perceptron have concentrated on integrating internal systems and cultures. “Perceptron has a rich history in the metrology and machine vision industry. After forming in the early eighties, Perceptron was an independent company for many years. We want to keep their entrepreneurial spirit intact as we provide the necessary support and resources to exceed company growth goals,” said Hoberg. “To support our growth plans, Perceptron is hiring across multiple departments.”

Several job openings are available in Plymouth, including Software Development Engineers, Training Specialists, Technical Support Engineers, and Project Engineers. Please visit https://perceptron.com/careers if you are interested in exploring employment opportunities with a growing company.

Founded in Stockholm, Sweden in 1873, Atlas Copco is a global group of 39,000 employees who are talented, passionate people providing world-leading technical solutions to customers in a broad spectrum of industries. Perceptron has approximately 300 employees worldwide with 100 located in Plymouth, Michigan.

 

For more information please contact:
Media Relations
Karen Carper
info@perceptron.com

Career Opportunities
Bridget House
jobs@perceptron.com

Perceptron Completes Merger with Atlas Copco

Plymouth, Mich., December 21, 2020 — Perceptron, Inc. (NASDAQ: PRCP), a leading global provider of 3D automated metrology solutions and coordinate measuring machines, today announced receiving all regulatory approvals and the successful closing of the previously announced Agreement and Plan of Merger with Atlas Copco, a world-leading provider of sustainable productivity solutions headquartered in Stockholm, Sweden.

As a result of the merger, Perceptron has become a wholly owned subsidiary of Atlas Copco. Under the terms of the merger agreement, Perceptron shareholders receive $7.00 per share in cash for each share of common stock held.  Following the closing, Perceptron’s common stock will no longer be publicly traded and will be delisted from the Nasdaq Global Market.

“We are pleased to have completed the merger with Atlas Copco, maximizing value for our shareholders, providing our customers with access to a broader array of technology and products, and offering our employees exciting new growth opportunities,” stated Jay Freeland, Chairman, and Interim CEO of Perceptron. “The path forward for our combined organizations is bright and the team is well-prepared for a seamless transition.”

XMS Capital Partners, LLC acted as financial advisor and Dykema Gossett PLLC acted as legal counsel to Perceptron on this transaction.

About Perceptron®

Perceptron (NASDAQ: PRCP) develops, produces, and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection, and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning, and advanced analysis software. Global automotive and other manufacturing companies rely on Perceptron’s metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times, and reduce costs. Headquartered in Plymouth, Michigan, Perceptron has subsidiary operations in Brazil, China, Czech Republic, France, Germany, India, Italy, Japan, Slovakia, Spain, and the United Kingdom.  For more information, please visit www.perceptron.com.

Safe Harbor Statement

Certain statements in this press release may be “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, including our expectations regarding our fiscal year 2021 and future results, operating data, new order bookings, revenue, expenses, net income, and backlog levels, trends affecting our future revenue levels, the rate of new orders, and our ability to fund our fiscal year 2021 and future cash flow requirements.  We may also make forward-looking statements in our press releases or other public or shareholder communications.  Whenever possible, we have identified these forward-looking statements by words such as “target,” “will,” “should,” “could,” “believes,” “expects,” “anticipates,” “estimates,” “prospects,” “outlook,” “guidance” or similar expressions.  We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements.  While we believe that our forward-looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made.  Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different.  Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our periodic reports filed with the Securities and Exchange Commission (the “SEC”), including those listed in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for our fiscal 2020.  Except as required by applicable law, we do not undertake, and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise.

Perceptron Shareholders Approve Merger Agreement with Atlas Copco

PLYMOUTH, Mich., Dec. 08, 2020 — Perceptron, Inc. (NASDAQ: PRCP), a leading global provider of 3D automated metrology solutions and coordinate measuring machines, today announced that at its annual meeting of shareholders held today, Perceptron shareholders approved the previously announced Agreement and Plan of Merger with Atlas Copco, a world-leading provider of sustainable productivity solutions headquartered in Stockholm, Sweden.

Under the terms of the merger agreement, Perceptron shareholders will receive $7.00 per share in cash for each share of common stock held. The transaction is expected to close during the calendar fourth quarter 2020, subject to customary closing conditions, including the receipt of clearance from CFIUS. Following the closing, Perceptron’s common stock will no longer be publicly traded and will be delisted from Nasdaq Global Market.

About Perceptron®

Perceptron (NASDAQ: PRCP) develops, produces and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning and advanced analysis software. Global automotive and other manufacturing companies rely on Perceptron’s metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times, and reduce costs. Headquartered in Plymouth, Michigan, Perceptron has subsidiary operations in Brazil, China, Czech Republic, France, Germany, India, Italy, Japan, Slovakia, Spain, and the United Kingdom. For more information, please visit www.perceptron.com.

Safe Harbor Statement

Certain statements in this press release may be “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, including our expectations regarding the possible effects of the COVID-19 pandemic on general economic conditions, public health, and global automotive industry, and the Company’s results of operations, liquidity, capital resources, and general performance in the future, the potential impact of COVID-19 on our customers generally and their plans for retooling projects in particular, our fiscal year 2021 and future results, operating data, new order bookings, revenue, expenses, net income and backlog levels, trends affecting our future revenue levels, the rate of new orders, and our ability to fund our fiscal year 2021 and future cash flow requirements. We may also make forward-looking statements in our press releases or other public or shareholder communications. Whenever possible, we have identified these forward-looking statements by words such as “target,” “will,” “should,” “could,” “believes,” “expects,” “anticipates,” “estimates,” “prospects,” “outlook,” “guidance” or similar expressions. We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements. While we believe that our forward-looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our periodic reports filed with the Securities and Exchange Commission (the “SEC”), including those listed in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for our fiscal 2020. Except as required by applicable law, we do not undertake and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise. The proposed merger is subject to certain conditions precedent, including regulatory approvals.  The Company cannot provide any assurance that the proposed merger will be completed, nor can it give assurances as to the terms on which such proposed merger will be consummated.

Closing the Loop – Part 2 of 2

Part 2 of 2 – Closing the Loop

There is a school of thought in manufacturing that quality inspection is not necessary to build a high-quality vehicle. When major programs are launched, the focus is on building the part and often the inspection systems are last in line for installation and commissioning. Additionally, when budgets are trimmed, inspection dollars are the first to be thrifted or re-allocated. When this happens, the plant engineers pay the price. They heavily rely on inspection data while refining the process and tooling during launch and later when they scramble to troubleshoot line stoppages. One way to ensure that everyone is served by your manufacturing strategy is to combine the build and inspection into the same operation. As we covered in our previous blog, Data Rich and Information Rich, Artificial Intelligence (AI) plays an important role in augmenting the automation of data analysis. This same concept applies to building parts using AI and machine learning to make adaptive robot guidance even more powerful for modern manufacturers.

The Rise of Robot Guidance Solutions (RGS)

In the late 1980s, Perceptron released the world’s first robot guidance system. The system used laser-based machine vision to measure the opening for a windshield then guided an industrial robot to center the windshield into the opening. When this system was installed, a whole new industrial capability was born. Today, from simple pick and place operations to complicated best fit panel loading, robot guidance is a mainstay of industrial manufacturing. As manufacturers strive to automate more operations to improve productivity, they can deploy robot guidance systems to maximize speed and ensure high quality in assembly operations. RGS has become a truly versatile tool for multiple industries.

Closed Loop Manufacturing

Robot guidance and quality work in concert throughout the modern manufacturing facility. One way these two technologies work in harmony is in closed loop manufacturing. One example of closed loop processing is what Perceptron termed “deck and check” when they began applying their technology to load automobile roofs and then subsequently verifying the dimensions of the roof ditches before the vehicle left the build operation. This breakthrough created an in-station process control (ISPC) strategy for loading roofs with higher dimensional quality and immediate verification of the quality of the part before releasing it from the welding station. The benefits of ISPC are significant. ISPC reduces the production line space and cost associated with installing a separate inspection station and ensures the point of discovery for a quality issue is early in the process before significant value has been added to the vehicle.

Adaptive Feedback and Control

One of the holy grails of machine vision for robot guidance has been true adaptive feedback control (AFC). With AFC, process and quality inputs are monitored and adjusted in real-time, creating a manufacturing process that responds to all the inputs to produce an assembly that is truly custom fit to the individual parts and process inputs. Add Machine Learning to this process and you could be on the doorstep of “lights out” manufacturing with an adaptive process that learns as it builds. Utilizing the networked data and analytical horsepower creates a feed-forward automation and a self-teaching manufacturing process. Harnessing this power could lead to a process that does much of the “heavy lifting” for us, while ensuring the highest quality parts at the required line rates.