Belgian optical sorting company Visys taken over by US firm

Washington state-based Key Technology Inc has completed its previously announced acquisition of Belgian optical sorting firm Visys NV, the Union Bulletin reports. Visys is now a wholly owned subsidiary of Key Technology through a purchase valued at €16 million. Under terms of the agreement, shareholders of privately owned Visys receive about €9 million in cash, 600,000 shares of Key Technology common stock and 250,000 Key Technology warrants. Visys supplies innovative digital sorters. The acquisition combines the two companies’ technologies to create an unparalleled selection for food processing and industrial markets. Key will maintain its headquarters in Walla Walla, WA, while Visys remains in Hasselt, in Limburg province. The combined company has about 560 employees worldwide.