Illinois Tool Works Inc. (ITW) has acquired all of the outstanding shares of VS Acquisition Holding Inc., the parent company of Vitronics Soltec Corporation, a leading global manufacturer of equipment, software and related services used in the soldering of PCBs and the packaging of semiconductor devices. Terms of the transaction were not disclosed. VS Acquisition Holding will be a wholly owned business unit of ITW and part of the company's existing power systems and electronics businesses. ITW will continue to operate VS Acquisition Holding as a separate business under the Vitronics Soltec brand name. Vitronics Soltec Corporation is based in Stratham, NH, USA, with affiliates in Oosterhout, Holland and Suzhou, China. Direct sales and support centers are located in the USA, Holland, Germany, Singapore, Malaysia, Korea and Shanghai. ITW is a $16.2 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of approximately 825 business units in 52 countries and employs some 60,000 people.
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