SMARTRAC to become majority owner of Neology Inc.
DGAP-News: SMARTRAC N.V. / Schlagwort(e): Firmenübernahme
SMARTRAC to become majority owner of Neology Inc.
08.12.2011 / 21:29
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Amsterdam and San Diego, California, December 8, 2011 - SMARTRAC N.V., a
leading developer, manufacturer, and supplier of RFID transponders,
announced that the company today signed an agreement regarding the
acquisition of Neology, Inc.. Under the terms of the agreement, SMARTRAC
will acquire Neology for US $ 30.0 million, on a cash and debt free basis.
In addition, the parties have agreed on an earn-out component of up to US $
9.0 million based on results of operations for the years 2011 and 2012.
Tenedora de Empresas S.A. de C.V. (Tenedora), the current majority
shareholder in Neology, Inc., will retain a 15 percent stake in Neology and
has agreed to re-invest any earn-out payments it may receive into the
combined company. The acquisition is subject to customary closing
conditions and is expected to close by the end of the year.
Neology, Inc., a Delaware Corporation, is a leader in secure customized
high-value RFID transponders and solutions. The company is headquartered in
San Diego, California, with offices in Mexico City and employs more than
150 people.
With the acquisition of Neology, SMARTRAC expects to benefit from the
access to the attractive and growing electronic vehicle registration and
electronic toll collection market in the Americas. The long-term expertise
of Neology in the ultra-high frequency (UHF) RFID business and the
comprehensive intellectual property (IP) are anticipated to contribute to
strengthening SMARTRAC's technology base.
'With this transaction, we will significantly expand our reach in the
Americas,' said Dr. Christian Fischer, CEO of SMARTRAC. 'Combining our
strong capabilities with the most successful technology platform for
electronic vehicle registration and electronic toll collection will create
a wealth of market-leading solutions for Neology and SMARTRAC customers.'
SMARTRAC maintains production facilities in Chanhassen, Minnesota, USA, and
Manaus, Brazil. Both SMARTRAC and Neology will benefit from synergies
across product portfolios and markets. Under the new ownership, Neology and
the totality of its 150 employees will continue its business activities in
San Diego and Mexico City. SMARTRAC said that Neology's product roadmap,
intellectual property strategy and research & development organization will
remain intact, with the opportunity to create additional value for
customers of both organizations by the use of cross-collaboration.
'The transaction opens excellent new possibilities for both companies.
Combining our strong intellectual property and UHF competency with
SMARTRAC's market leading position in the RFID industry will drive a new
wave of innovation for customers around the world,' said Francisco Martínez
De Velasco, CEO of Neology Inc.
About Neology:
As an early player in UHF technology and a holder of some of the most
important Intellectual Property in the industry, Neology is the leading
provider of integrated solutions for the tolling, electronic vehicle
registration (EVR) and public safety markets. Neology is the exclusive
provider for the Mexico Repuve program, an ambitious program to tag every
vehicle in Mexico with an RFID tag to enhance security and combat fraud.
For more information visit www.neology-rfid.com
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. For more
information visit www.smartrac-group.com
Forward-looking statements:
To the extent that this press release contains forward-looking statements,
such statements are based on assumptions, planning, and forecasts at the
time of publication of this press release. Forward-looking statements
always involve uncertainties. Business and economic risks and developments,
the conduct of competitors, political decisions, and other factors may
cause the actual results to be materially different from the assumptions,
planning, and forecasts at the time of publication of this press release.
Therefore, SMARTRAC N.V. does not assume any responsibility relating to
forward-looking statements contained in this press release. Furthermore,
SMARTRAC N.V. does not assume any obligation to update the forward-looking
statements contained in this press release.
Ende der Corporate News
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08.12.2011 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch die DGAP - ein Unternehmen der EquityStory AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber
verantwortlich.
Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,
Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter http://www.dgap-medientreff.de und
http://www.dgap.de
---------------------------------------------------------------------
Sprache: Deutsch
Unternehmen: SMARTRAC N.V.
Strawinskylaan 851
1077 XX Amsterdam
Niederlande
Telefon: +31 20 30 50 157
Fax: +31 20 30 50 155
E-Mail: investor.relations@smartrac-group.com
Internet: www.smartrac-group.com
ISIN: NL0000186633
WKN: A0JEHN
Börsen: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
Ende der Mitteilung DGAP News-Service
---------------------------------------------------------------------
149188 08.12.2011
DGAP-News: SMARTRAC N.V. / Schlagwort(e): Firmenübernahme
SMARTRAC to become majority owner of Neology Inc.
08.12.2011 / 21:29
---------------------------------------------------------------------
Amsterdam and San Diego, California, December 8, 2011 - SMARTRAC N.V., a
leading developer, manufacturer, and supplier of RFID transponders,
announced that the company today signed an agreement regarding the
acquisition of Neology, Inc.. Under the terms of the agreement, SMARTRAC
will acquire Neology for US $ 30.0 million, on a cash and debt free basis.
In addition, the parties have agreed on an earn-out component of up to US $
9.0 million based on results of operations for the years 2011 and 2012.
Tenedora de Empresas S.A. de C.V. (Tenedora), the current majority
shareholder in Neology, Inc., will retain a 15 percent stake in Neology and
has agreed to re-invest any earn-out payments it may receive into the
combined company. The acquisition is subject to customary closing
conditions and is expected to close by the end of the year.
Neology, Inc., a Delaware Corporation, is a leader in secure customized
high-value RFID transponders and solutions. The company is headquartered in
San Diego, California, with offices in Mexico City and employs more than
150 people.
With the acquisition of Neology, SMARTRAC expects to benefit from the
access to the attractive and growing electronic vehicle registration and
electronic toll collection market in the Americas. The long-term expertise
of Neology in the ultra-high frequency (UHF) RFID business and the
comprehensive intellectual property (IP) are anticipated to contribute to
strengthening SMARTRAC's technology base.
'With this transaction, we will significantly expand our reach in the
Americas,' said Dr. Christian Fischer, CEO of SMARTRAC. 'Combining our
strong capabilities with the most successful technology platform for
electronic vehicle registration and electronic toll collection will create
a wealth of market-leading solutions for Neology and SMARTRAC customers.'
SMARTRAC maintains production facilities in Chanhassen, Minnesota, USA, and
Manaus, Brazil. Both SMARTRAC and Neology will benefit from synergies
across product portfolios and markets. Under the new ownership, Neology and
the totality of its 150 employees will continue its business activities in
San Diego and Mexico City. SMARTRAC said that Neology's product roadmap,
intellectual property strategy and research & development organization will
remain intact, with the opportunity to create additional value for
customers of both organizations by the use of cross-collaboration.
'The transaction opens excellent new possibilities for both companies.
Combining our strong intellectual property and UHF competency with
SMARTRAC's market leading position in the RFID industry will drive a new
wave of innovation for customers around the world,' said Francisco Martínez
De Velasco, CEO of Neology Inc.
About Neology:
As an early player in UHF technology and a holder of some of the most
important Intellectual Property in the industry, Neology is the leading
provider of integrated solutions for the tolling, electronic vehicle
registration (EVR) and public safety markets. Neology is the exclusive
provider for the Mexico Repuve program, an ambitious program to tag every
vehicle in Mexico with an RFID tag to enhance security and combat fraud.
For more information visit www.neology-rfid.com
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. For more
information visit www.smartrac-group.com
Forward-looking statements:
To the extent that this press release contains forward-looking statements,
such statements are based on assumptions, planning, and forecasts at the
time of publication of this press release. Forward-looking statements
always involve uncertainties. Business and economic risks and developments,
the conduct of competitors, political decisions, and other factors may
cause the actual results to be materially different from the assumptions,
planning, and forecasts at the time of publication of this press release.
Therefore, SMARTRAC N.V. does not assume any responsibility relating to
forward-looking statements contained in this press release. Furthermore,
SMARTRAC N.V. does not assume any obligation to update the forward-looking
statements contained in this press release.
Ende der Corporate News
---------------------------------------------------------------------
08.12.2011 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch die DGAP - ein Unternehmen der EquityStory AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber
verantwortlich.
Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,
Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter http://www.dgap-medientreff.de und
http://www.dgap.de
---------------------------------------------------------------------
Sprache: Deutsch
Unternehmen: SMARTRAC N.V.
Strawinskylaan 851
1077 XX Amsterdam
Niederlande
Telefon: +31 20 30 50 157
Fax: +31 20 30 50 155
E-Mail: investor.relations@smartrac-group.com
Internet: www.smartrac-group.com
ISIN: NL0000186633
WKN: A0JEHN
Börsen: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
Ende der Mitteilung DGAP News-Service
---------------------------------------------------------------------
149188 08.12.2011