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SMARTRAC N.V.

SMARTRAC N.V.

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Publicatie datum 14 dec 2011 - 17:07
Statutaire naam SMARTRAC N.V.
Titel SMARTRAC signs purchase agreement to acquire KSW Microtec AG
Bericht Amsterdam and Jena, December 14, 2011 – SMARTRAC N.V., a leading developer, manufacturer, and supplier of RFID transponders, announced that the company signed a contract today with Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG, Jena, Germany, regarding the acquisition of KSW Microtec AG by SMARTRAC N.V. at an amount of EUR 24 million enterprise value. The purchase price is payable in three tranches. The first tranche in the amount of EUR 12 million is due at closing of the acquisition, and the two additional tranches in the amount of EUR 6 million each will become due on August 31, 2012 and December 31, 2013, respectively. The acquisition is subject to standard closing conditions. KSW Microtec AG (KSW) and the totality of its 72 employees will continue their business activity in Dresden under the new ownership. KSW and SMARTRAC have very similar positions in the global RFID value chain. Thus, the acquisition will not create any channel conflicts. The long-term expertise of KSW in the high frequency (HF) and ultra-high frequency (UHF) RFID inlay production and proprietary know-how of KSW are expected to contribute to strengthening SMARTRAC’s technology base. Synergies are also expected to result from joint research and development activities.