Founded in 1993, DIARC Technology Oy manufactures thin-film coatings “that improve the performance and durability of tools and precision components,” according to an Oerlikon Balzers statement announcing the acquisition. The Liechtenstein surface technologies specialist will use the acquisition to expand its portfolio of technologies and strengthen its market position in Scandinavia.
“This acquisition sees us further accelerate the global expansion of our services,” said Jochen Weyand, Head of Business Unit Automotive Solutions, Oerlikon. “DIARC solutions perfectly complement our existing technology and coating portfolio, introducing a new surface technology in addition to what we currently offer.“
The acquisition agreement was signed on 4 January and officially completed on Monday. Both parties have agreed not to disclose the purchase price.