LMI sells out to Augusta

ERJ staff report (LMH)

Vancouver, Canada -- LMI Technologies, maker of 3D laser measurement sensors for industrial measurement and control applications, has sold 100 percent of its shares to join Augusta Technologie AG, the company said in a 3 May announcement.

In joining with the German sensor and vision technology public company, LMI said it will become part of a larger worldwide company in the field of digital imaging technologies.

Together, the two companies said they hoped to further increase their presence in existing and new growth markets within the vision industry. LMI offers entry into the growing 3D market and expansion in North America, the statement said, while Augusta will allow LMI the opportunity to expand its distrubution channels for the Gocator product.

"We are delighted to become part of the Augusta Group, given the attractive synergies arising for both parties. In particular, the Augusta focus on building a worldwide leading vision house will position us to serve our customers even better than today," said LMI ceo, Terry Arden.

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Press release from LMI