CAMBRIDGE, ON, July 19,
2023 /PRNewswire/ - ATS Corporation (TSX: ATS)
(NYSE: ATS) ("ATS" or the "Company") today announced
that it has acquired Odyssey Validation Consultants Limited
("Odyssey"), an Ireland-based provider of digitalization
solutions for the life science industry. The financial terms of the
transaction were not disclosed.
Odyssey will join ATS' Process Automation Solutions
("PA") business, a leading provider of automation and
digitalization solutions for the process and manufacturing
industries. Odyssey's strong focus on supporting customers in the
life science industry in their compliant digital transformation and
journey to cloud, will help accelerate PA's strategy to drive
validated production process improvements through digital
solutions. This acquisition allows PA to expand its value
proposition in the highly attractive life science end-market
through delivering qualified and validated digitalization and
automation solutions.
"Odyssey's strong expertise in computer system validation and
cloud-based software solutions can be offered to our existing
customers in the life science industry as a value-add to our
current platform, AI and ML-based software solutions, advanced data
analytics capabilities, and domain knowledge," said Dr.
Christian Debus, President of PA.
"Together we can leverage our capabilities and solutions to drive
continuous improvement in regulated production processes for our
customers across all industry sectors. We welcome the Odyssey team
to PA."
"Digital transformation is playing a key role in accelerating
the delivery of new and innovative treatments for patients, with
compliance being key for patient safety, product quality, and data
integrity,"' said Oisin Curran &
Fionnan Friel, Founders of Odyssey.
"Combining our people and products with that of PA Solutions, along
with their global reach, can enable us to accelerate digital
transformation in the life science industry and shorten time to
market for new treatments for patients."
About Odyssey
Founded in 2015 and based in Kildare, Ireland, Odyssey is a provider of
digitalization solutions for the life science industry with a
strong focus on computer system validation, facilitating the
journey to cloud through fully compliant cloud-based platforms and
compliant 'fit-for-purpose' software solutions. Visit the
company's websites at https://www.odysseyvc.com and
https://www.compliantcloud.com for more details.
About Process Automation
Solutions
Process Automation Solutions GmbH is one of the leading,
manufacturer-independent suppliers of complete automation solutions
for the process, manufacturing, and automotive industries. As a
strong partner, PA's 1,400 automation experts in Europe, America, and Asia support their customers during all phases
of automation from planning to implementation and commissioning –
and if desired, throughout the entire lifecycle of the plant
through aftersales service. Visit PA's website
at www.pa-ats.com.
About ATS Corporation
ATS Corporation is an industry-leading automation solutions
provider to many of the world's most successful companies. ATS uses
its extensive knowledge base and global capabilities in custom
automation, repeat automation, automation products and value-added
services including pre-automation and after-sales services, to
address the sophisticated manufacturing automation systems and
service needs of multinational customers in markets such as life
sciences, food & beverage, transportation, consumer products,
and energy. Founded in 1978, ATS employs over 6,500 people at more
than 60 manufacturing facilities and over 80 offices in
North America, Europe, Asia,
and Oceania. The Company's common shares are traded on the Toronto
Stock Exchange and the New York Stock Exchange under the symbol
ATS.
Forward-looking
Statements
This press release contains certain statements that may
constitute forward-looking information and forward-looking
statements within the meaning of applicable securities laws
("forward-looking statements"). Forward-looking statements include
all statements that are not historical facts regarding possible
events, conditions or results of operations that ATS believes,
expects or anticipates will or may occur in the future, including,
but not limited to: the acceleration of PA's strategy; the
expansion of PA's value proposition; PA and Odyssey's ability to
leverage their capabilities and solutions to drive continuous
improvement in regulated production processes; and the ability of
both PA and Odyssey together to accelerate digital transformation
in the life sciences industry and shorten time to market for new
treatments. Forward-looking statements are inherently subject to
significant uncertainties, risks, and other factors that could
cause the actual results, performance, or achievements of ATS, or
developments in ATS' business or in its industry, to differ
materially from those discussed in the forward-looking statements.
Important factors that could cause actual results to differ
materially from expectations include, but are not limited to, the
impact of regional or global conflicts; general market performance
including capital market conditions and availability and cost of
credit; performance of the markets that ATS serves; industry
challenges in securing the supply of labour, materials, and, in
certain jurisdictions, energy sources such as natural gas; impact
of inflation; interest rate changes; foreign currency and exchange
risk; the relative strength of the Canadian dollar; risks related
to customer concentration; risks related to a recession, slowdown,
and/or sustained downturn in the economy; impact of factors such as
increased pricing pressure, increased cost of energy and supplies,
and delays in relation thereto, and possible margin compression;
the regulatory and tax environment; the emergence of new infectious
diseases and pandemics, including the potential resurgence of
COVID-19 and/or new strains of COVID-19 and collateral consequences
thereof, including the disruption of economic activity, volatility
in capital and credit markets, and legislative and regulatory
responses; the effect of events involving limited liquidity,
defaults, non-performance or other adverse developments that affect
financial institutions, transaction counterparties, or other
companies in the financial services industry generally, or concerns
or rumours about any events of these kinds or other similar risks,
that have in the past and may in the future lead to market-wide
liquidity problems; energy shortages and global prices increases;
that expectations in relation to the acceleration of PA's strategy
or the expansion of PA's value proposition are not realized as
expected or at all; that the acquisition does not succeed in
leveraging the capabilities of PA and Odyssey to drive continuous
improvement as expected or at all; that PA and Odyssey are unable
to accelerate digital transformation in the life sciences industry
or shorten time to market for new treatments as expected or at all;
and other risks and uncertainties detailed from time to time in
ATS' filings with securities regulators, including, without
limitation, the risk factors described in ATS' annual information
form for the fiscal year ended March 31,
2023, which are available on the System for Electronic
Document Analysis and Retrieval ("SEDAR") and can be accessed at
www.sedar.com. ATS has attempted to identify important factors that
could cause actual results, performance, or achievements to vary
from those current expectations or estimates expressed or implied
by the forward-looking statements. However, there may be other
factors that cause results, performance, or achievements not to be
as expected or estimated and that could cause actual results,
performance, or achievements to differ materially from current
expectations.
Forward-looking statements are necessarily based on a number of
estimates, factors, and assumptions regarding, among others,
management's current plans, estimates, projections, beliefs and
opinions, the future performance and results of the Company's
business and operations; the ability of ATS to execute on its
business objectives; and general economic and political conditions,
and global events, including the COVID-19 pandemic.
Forward-looking statements included in this press release are
only provided to understand management's current expectations
relating to future periods and, as such, are not appropriate for
any other purpose. Although ATS believes that the expectations
reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties, and undue reliance
should not be placed on such statements. ATS does not undertake any
obligation to update forward-looking statements contained herein
other than as required by law.
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SOURCE ATS Corporation
