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Protacon acquires industrial digitizer Arrow
The technology company Protacon has acquired ARROW Engineering Oy, which specializes in improving the productivity of the manufacturing industry through digitalisation and visual management. With the acquisition, the parties will be able to continue to offer new types of services to their current customer base. The deal is Protacon’s fifth acquisition this year.
“ARROW, an internationally operating company, will bring to our customers its expertise in industrial production management and software products with a strong position and a vast array of views based on data from different industries. We can take advantage of each other’s know-how, for example by offering a wider range of services and developing management by knowledge services for the future” says Veli-Matti Nurminen, Managing Director of Protacon.
Protacon will bring a new shift to ARROW’s services and product development
“We share a common view of the challenges and possibilities of industrial digitalization for our customers. Our services complement each other almost perfectly. We can create entirely new types of service, for example for the paper and energy industries by combining strengths in product development, customer service and customer deliveries” says Pekka Pylkkänen, Managing Director of ARROW Engineering Oy.
“Our ability to respond to the most demanding delivery projects will rise to a new level. We can also continue to invest heavily in the development and internationalization of our services. A common vision of digitalisation and significant synergy benefits make Protacon an ideal new home for us and is an excellent innovation for our customers” Pylkkänen envisions.
ARROW Engineering Oy will continue as a subsidiary as part of the Protacon Group. The company has operated for 25 years and currently serves about 500 customers in 30 countries. ARROW is one of the most prominent players in its own area of expertise, in the digitalization of the management of floor-level production in the manufacturing industry and in the development of operative activities in industrial production.
“We expect ARROW to strengthen our competitive position especially in the global market,” says Timo Akselin, Management Board Member responsible for the growth strategy of Protacon.
“As a whole, ARROW is a unique player, as the company is offering a corresponding service package that is not in the market. We have a large and significant common customer base, but no overlaps in the service offering. We are also happy to make ARROW part of the story of Protacon” Akselin continued.
The deal is already Protacon’s fifth this year. In January, the company acquired software company Netwell Oy and Descal Engineering Oy, which produces industrial design services. In March, Protacon acquired a significant portion of Inray Oy, a supplier of real-time measurement systems, and in April the technology company Vision Systems Oy’s business operations. Acquisitions have been the focus of Protacon’s growth strategy, targeting companies globally producing industrial services and products as well as on companies producing software development services in Finland and neighbouring regions.