SMARTRAC to acquire Dresden-based RFID specialist
Jena, December 14, 2011 - Deutsche Effecten- und
Wechsel-Beteiligungsgesellschaft AG (DEWB) today announced
the sale of its investment holding KSW Microtec Holding AG
and its operational subsidiary, KSW Microtec AG, Dresden. The
purchaser is SMARTRAC N.V, Amsterdam, Netherlands, a leading
developer, manufacturer and supplier of RFID transponders.
SMARTRAC will take over KSW for total cash consideration of
EUR 24 million. The payment will be made in three tranches.
The first tranche, in the amount of EUR 12 million, will be
made upon closing of the transaction. Two additional
tranches, in the amount of EUR 6 million each, are due on
August 31, 2012 and December 31, 2013, respectively. Payment
of the second and third tranches is not linked to the
achievement of any performance measures. DEWB has been
associated with KSW since 2001, initially with a 10 percent
share in the company. In 2006, as part of a leveraged buyout,
DEWB acquired a share of 100 percent in the company. KSW
currently employs 72 staff in Dresden and is projecting a
turnover of approximately EUR 12 million in the current
financial year.
"Over the past few years, we have worked consistently at
developing KSW, from its position as a mass supplier in the
standard inlay business, to that of an innovator within the
RFID industry, supplying technologically advanced products.
Therefore, we have been able to successfully position KSW on
the market. We are delighted to have won SMARTRAC, the world
leader in RFID inlays for ePassports and ePayment
applications, as purchaser", said Falk Nuber, Member of the
Management Board of DEWB AG. "The association of SMARTRAC and
KSW, and the combination of their respective well-established
alternative engineering concepts, will create a unique and
comprehensive product and technology portfolio in the
industry.
The sale of KSW is the fourth exit by DEWB in the last six
months. DEWB is planning to close the current financial year
with a significant annual net profit. The outlook regarding
the equity per share for the year-end is above EUR 2.15.
Details will be published in January along with preliminary
figures for 2011.
About SMARTRAC
SMARTRAC is a leading developer, manufacturer, and supplier
of RFID components for a broad range of applications in all
current frequency standards. The company produces both
ready-made and customized transponders for public transport,
access control, RFID-based car immobilizers, animal
identification, libraries, industry, and logistics.
SMARTRAC is the global market leader in high-quality RFID
inlays for electronic passports (e-passports) and contactless
credit cards (e-payment) as well as for RFID transponders for
public transportation applications. SMARTRAC was founded in
2000, went public in July 2006, and trades as a stock
corporation under Dutch law with its registered headquarters
in Amsterdam. The company currently employs some 3,300
employees and maintains a global research and development,
production, and sales network.
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