Inspection technology company ISRA Vision says it has found a "future-oriented succession solution" in an agreement with Atlas Copco.
Failing a family member to continue the business, chief executive Enis Ersü - who will be 67 this year - had been looking for a long-term plan for the future would would support the company's growth.
"A strategic partnership provides the framework for ISRA to continue to realise its visions for the future, to exploit market potential, to continue the continuity of its business and to pursue its growth strategy," he says.
"With a strategic industrial partner, ISRA can further develop the main focuses that the company has successfully set for its markets."
Atlas Copco is a major player in industrial image processing ('machine vision') and a leading providers of surface inspection systems for web materials and for 3D machine vision applications. The Swedish group has about 37,000 employees, customers in more than 180 countries and Euros 9 billion in annual turnover.
ISRA founder Ersü built the technology group founded as a spin-off of the Darmsdadt technical university, and now employs around 900 people at 25 global sites.
ISRA will operate and continue to develop from Darmstadt as an independent pillar in the Atlas Copco structure. Ersü says he will "accompany the integration process over a longer period" to ensure a smooth transition. Plans for a new headquarters building in Darmstadt, are to continue, with a move planned for 2021.