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Stockholm-based Atlas Copco has agreed to acquire vacuum and abatement solutions provider Edwards Group for approximately $1.5 billion.

Based in Crawley, UK, Edwards has more than 3,200 employees and had revenues of nearly $1 billion in 2012. Its products and services are integral to many manufacturing processes and are used in a diverse range of industrial applications.

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“Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well. It is a great fit for Atlas Copco,” said Ronnie Leten, president and CEO at Atlas Copco. “The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses.”

The transaction will be completed by way of a merger, Atlas Copco said in a press release.