Matrikon acquires Matrikon Deutschland AG
Edmonton, AB September 1, 2005
- This acquisition further expands Matrikon's footprint in the European market and establishes a base in Europe's largest economic area.
- As a Matrikon distributor, Matrikon Deutschland AG has built a solid product revenue base and more than doubled its revenue compared to 2003 revenue (the year prior to becoming an exclusive Matrikon distributor).
- Matrikon Deutschland is expected to grow more efficiently aided by Matrikon marketing and corporate resources and to be able to more effectively deliver broader solutions based on Matrikon technology.
- Matrikon Deutschland AG recorded revenue of €0.87 million (CDN$1.42 million) for the year ended December 31, 2004.
- Under Canadian GAAP, the acquisition is expected to be accretive to earnings in Matrikon's 2006 fiscal year.
Matrikon Inc. (TSX: MTK) is pleased to announce that it has acquired Matrikon Deutschland AG based in Köln, Germany.Matrikon Deutschland AG is a system integrator offering turnkey industrial IT project execution and has been a distribution partner of Matrikon's since 2002. In July 2004, the company became an exclusive distributor of Matrikon technology in Germany and licensed the Matrikon name.
Matrikon Deutschland AG recorded revenue of €0.87 million (CDN$1.42 million) for the year ended December 31, 2004. The purchase price is €1.58 million (CDN $2.31 million) in cash for all issued and outstanding shares of Matrikon Deutschland AG.
Timo Klingenmeier, managing director of Matrikon Deutschland AG stated: 'Since we licensed the Matrikon name last year and committed to their world class technology, our sales have doubled. Our success over this period validates our ability to work together to deliver value to clients. We are excited about our future as a full member of the Matrikon team.'
By combining the companies' resources, geography and domain expertise, Matrikon is now positioned to increase market penetration in the European market, which has been a targeted area of growth over the past few years.
Amin Rawji, president of Matrikon stated: 'We are continuing to broaden our footprint in the strategic European market where we see high growth potential for Matrikon technology and solutions. As part of the Matrikon team, we will be able to help Matrikon Deutschland grow more effectively and translate the success they have had with product sales to larger solutions. We also aim to capitalize on their strong customer base and experience in the petrochemical and refining industries."
The financial information for Matrikon Deutschland AG was prepared according to German generally accepted accounting principles and was originally reported in Euros.
About Matrikon Deutschland AG
Matrikon Deutschland was established in 2000 and offers a range of services for turnkey industrial information technology project execution. The company employs ten permanent and contract staff and boasts a strong reputation and customer base in Germany. The growth of Matrikon Germany - former namend BestSolutions AG - was backed by Ventizz Capital Partners AG.
About Matrikon Inc.
Matrikon is a leading provider of integrated industrial intelligence solutions that enable manufacturing plants to achieve operational excellence by transforming production data into knowledge to predict and prevent problems and optimize operations. Matrikon's customers achieve agile operations through the combination of external market and plant data to make informed, intelligent decisions in real-time. With offices in major cities throughout North America, Australia, Europe and the Middle East and a global client base including industry leaders in a wide range of manufacturing and process industries, Matrikon's reach is global.
Matrikon is a trademark of Matrikon Inc.
Note: Certain information contained in this news release is forward-looking and is subject to unknown risks or uncertainties. The actual results, performance or achievements of the Company may differ materially from the results, performance or achievements of the Company expressed or implied by such forward-looking statements.