HMS Networks AB (publ) acquires German company Beck IPC GmbH
- Written by ACN Newswire
The purchase price amounts to EUR 5 million on a cash-free/debt-free basis and is paid in cash. Depending on Beck IPC GmbH reaching certain defined financial targets, an additional EUR 2 million may become payable in 2020. Beck IPC GmbH is expected to have net sales of EUR 6-7 million in 2018. The acquisition will have a limited impact on HMS's earnings per share in 2018.
"Beck IPC's knowledge, hardware and software products for IIoT, especially within the embedded offering, are important building blocks to strengthen our strategy within IIoT," says Staffan Dahlstrom, CEO of HMS Networks AB.
"We are excited to be joining HMS. Thanks to our complementing technologies we will be able to offer innovative, cutting-edge solutions within IIoT, and HMS's worldwide sales organization will ensure a global market reach," says Thomas Schumacher, Managing Director of Beck IPC GmbH.
For more information, please contact:Staffan Dahlstrom, CEO HMS, +46 709-17 29 01Joakim Nideborn, CFO HMS, +46 707-72 29 83
This information is such that HMS Networks AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation, the Swedish Financial Instruments Trading Act and the Swedish Securities Market Act. The information was submitted for publication at 16:00 CET on July 17, 2018.
HMS Networks AB (publ) is the leading independent supplier of solutions for industrial communication. HMS develops and manufactures solutions for connecting automation devices and systems to industrial networks and IIoT under the Anybus(R), IXXAT(R) and eWON(R) brands. Communication solutions for building automation are offered through the subsidiary Intesis. Development and manufacturing take place at the headquarters in Halmstad, Ravensburg, Nivelles and Igualada. Local sales and support are handled by branch offices in Japan, China, Germany, USA, Italy, France, Belgium, Singapore, Spain, India, UK, Sweden, Finland and Denmark, as well as through an extensive network of distributors. HMS employs over 500 people and reported sales of 119 million EUR in 2017. HMS is listed on the NASDAQ OMX in Stockholm, category Mid Cap, Information Technology.
AttachmentPRM - HMS acquires German company Beck IPC GmbH (ENG)https://bit.ly/2zJcg3e [2]
Topic: Press release summary http://www.acnnewswire.com From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
References
- ^ [email protected] (www.acnnewswire.com)
- ^ https://bit.ly/2zJcg3e (bit.ly)
Read more http://www.acnnewswire.com/press-release/english/44863/
