ATS to Acquire Production Process Optimization and Digitalization Solutions Provider IPCOS

CAMBRIDGE, ON, Nov. 29, 2022 /CNW/ - ATS Corporation (TSX: ATS) ("ATS" or the "Company") today announced that it has entered into a definitive agreement to acquire IPCOS Group nv ("IPCOS"), a Belgium-based provider of process optimization and digitalization solutions with six locations across Europe, the US, and India. The financial terms of the transaction were not disclosed, and the transaction is subject to the satisfaction of certain closing conditions.

IPCOS will join ATS' Process Automation Solutions ("PA") business, a leading provider of complete automation and digitalization solutions for the process and manufacturing industries. With a strong focus on process optimization, IPCOS will accelerate PA's strategy to drive productivity improvement through digital solutions. In synergy with the existing PA portfolio, it furthers PA's value proposition of creating solutions for customers through automation integration, data analytics, and process optimization.

"IPCOS broadens our process optimization and digitalization capabilities in our key focus sectors," said Dr. Christian Debus, President of PA.  "Its strong domain knowledge, which has been incorporated into their digital solutions, can be offered to our existing customers as a value add to our leading digitalization platform. Additionally, IPCOS will significantly accelerate PA's growth trajectory, and further strenghten our unique value proposition. We are looking forward to welcoming the IPCOS team to PA."

"Being part of PA will accelerate IPCOS' strategy to grow in the area of digital services and in new customer segments by leveraging PA's extensive technological expertise, global footprint, and customer access," said Filip Stroobant, CEO of IPCOS.

About IPCOS

IPCOS was founded in 1995, and is headquartered in Leuven, Belgium. IPCOS is a Digital Solutions and Services provider, focused on maximizing plant efficiency, increasing business productivity, and enhancing environmental sustainability, through the smart application of latest Industry 4.0 technologies. IPCOS serves a wide range of international process and allied industries with six locations across the US, Europe and India. Visit the company's website at https://ipcos.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 6,000 people at more than 50 manufacturing facilities and over 75 offices in North America, Europe, Southeast Asia and China. The Company's common shares are traded on the Toronto Stock Exchange under the symbol ATS. Visit the Company's website at www.atsautomation.com.

Forward-looking Statements

This news release contains certain statements that may constitute forward-looking information 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: completion of the acquisition; expectations related to the achievement of PA's strategy, including its growth strategy, and value proposition, and expectations related to IPCOS' growth strategy.. Such forward-looking statements are inherently subject to significant known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ATS, or developments in ATS' business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Important risks, uncertainties and factors that could cause actual results to differ materially from expectations expressed in the forward-looking statements include, but are not limited to, the  duration of the COVID-19 pandemic and its impact on the Company, its  employees, customers, suppliers and the global economy; 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; recessionary risk; 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; that closing is delayed or prohibited as a result of the inability to complete closing conditions; the expectations related to the achievement of PA's strategy, including its growth strategy, or in relation to its value proposition, are not realized as expected, or within the expected timeframe or at all; the expectations related to IPCOS' growth strategy are not realized as expected, or within the expected timeframe or at all; performance of the market sectors or customer segments that PA and IPCOS serve; 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, 2022, 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 to materially differ from current expectations, however, there may be other factors that cause actual results to differ materially from such 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; and general economic conditions and global events, including the COVID-19 pandemic.

Forward-looking statements included in this news 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 ATS cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. ATS does not undertake any obligation to update forward-looking statements contained herein other than as required by law.

SOURCE ATS Corporation

David Galison, Head of Investor Relations, ATS Corporation, 730 Fountain Street North, Cambridge, ON, N3H 4R7, [phone], [email protected]