The deal is expected to introduce products and abatement solutions to Atlas' vacuum solutions division within the compressor technique business.

The services to be gained by Atlas in the transaction are being touted as integral to manufacturing processes and used within an increasingly diverse range of industrial applications.

In announcing the takeover arrangement for the 32,000-employee company, Atlas is estimating the value of the vacuum solutions market at more than 40 billion krona, or $A6.6 billion.

Atlas president and chief executive Ronnie Leten said Edwards was a "great fit", noting the company's well-developed structure and customer relationships.

"The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses," Leten said.

"We recognise the strength Edwards has in its people and products as well as their excellence in technology and innovation.

"We are excited this professional company will join our group."

The merger has been unanimously approved by the boards of both companies and is expected to close in the first quarter of 2014.

The news coincides with a showcase by Atlas Australia's tools division at Asia-Pacific's International Mining Exhibition, where the company is highlighting various assembly systems and big bolt fastening technology.

Atlas tools on display at AIMEX today include the LMS8 series impact wrench, which the company describes as having "unrivalled power-to-weight characteristics"

Also on show is Atlas' Tensor Revo handheld high-torque tightener, which is reportedly 50% lighter and 40% more compact than the company's previous model.