Parsytec AG

ISRA VISION AG buys majority stake in Parsytec AG - new platform for profitable growth

Joint press release by the Executive Board of ISRA VISION AG and Parsytec AG

@@start.t1@@--------------------------------------------------------------------------------   ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for   the content of this announcement. --------------------------------------------------------------------------------@@end@@

companies/majority stake

Aachen (euro adhoc) - On 23 July 2007, ISRA VISION AG acquired more than 52% of the shares in Parsytec AG from the company founder and main shareholder Falk Kuebler and an institutional investor.

ISRA's management is pleased to have successfully concluded the transaction. With its high-quality products and services for surface and web inspection in the metal and paper industry, Parsytec has achieved a leading position on the global market. Since ISRA is not yet so well established in these industries and has mainly expanded in the industrial automation, glass, speciality paper, printing and plastics sectors to date, the product ranges of both companies complement each other perfectly.

Parsytec welcomes the majority acquisition by ISRA and is pleased to have finally found again a long term-oriented strategic investor and partner from the same industry with whom a stronger platform can be built and the huge potential for dynamic growth can be fully utilised in future, following Mr Kuebler's departure from the company. The very similar corporate culture is a real bonus. Both are medium-sized high-growth companies characterised by the strong personalities of their founders and executives.

After the initial talks between managers from both companies, there is a shared view that the joint future offers advantages for both companies. The Executive Board of Parsytec expects a mandatory compulsory offer from ISRA in the next few weeks, and will issue a recommendation to its shareholders after a thorough examination.

In an initial overview, both companies have identified the perfectly complementing product and sales structures as the biggest opportunity. The strengths of both companies will be applied very soon in order to build on existing successes on the market and become even more successful. More specifically, this means that Parsytec will assume organisational leadership for a joint market presence of the Parsytec and ISRA brands in the metal and paper sectors.

A future of great opportunities and growth potential lies ahead for the companies. The business will be enhanced by working together. Dynamic growth with high profitability is the objective. Both management teams will quickly take the legal and organisational measures required to make the most of the opportunities currently available. To this end, extensive synergies will be leveraged and economies of scale utilised.

@@start.t2@@end of announcement                                                 euro adhoc 26.07.2007 11:23:23

ots Originaltext: Parsytec AG
Im Internet recherchierbar:

Further inquiry note:
Parsytec AG
Investor Relations
Tel ++49(241)9696-200
Fax ++49(241)9696-500

Branche: Software
ISIN:      DE000A0JQ4J9
WKN:        A0JQ4J
Index:    Prime All Share, Technologie All Share, CDAX
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / free trade

Weitere Meldungen: Parsytec AG

Das könnte Sie auch interessieren: