EANS-Adhoc: Kapsch TrafficCom acquires Mark IV IVHS, the largest supplier of electronic toll collection (ETC) equipment in North America
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
05.11.2010
Vienna, November 5, 2010. Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed on the Vienna Stock Exchange in the prime market segment, has agreed to acquire through subsidiaries the businesses of MARK IV IVHS, part of MARK IV, LLC (U.S.), in the United States, in Canada and in Mexico for a purchase price of USD 70 million (approximately EUR 50 million), subject to certain closing conditions and subject to certain potential price adjustments based on working capital included with the business. The transaction is structured as a stock purchase of the holding companies which own the Mark IV IVHS business, and closing is targeted for 30 November 2010.
MARK IV IVHS is a designer and manufacturer of dedicated short-range communication (DSRC) devices that are widely used by highway, toll, turnpike, tunnel, and bridge authorities to enable intelligent transportation systems (ITS) such as electronic toll collection (ETC) and automated weigh station bypass. With more than 21.8 million transponders on-the-road and more than 3,700 lanes equipped, MARK IV IVHS is the largest supplier of ETC equipment in North America. MARK IV IVHS has enabled many landmark ITS deployments, including: the world´s first non-stop, all-electronic toll road (Highway 407 ETR, Canada); interoperability between truck electronic preclearance systems and toll collection (PrePass); and, the E-ZPass® system of the 24 toll authorities in 14 states who comprise the E-ZPass® Group in the Northeastern United States. E-ZPass® is a regional ETC system that can be used throughout the Northeast and Midwest regions of the United States. MARK IV IVHS also recently announced a contract award in Mexico. With 142 employees, MARK IV IVHS generated in its last fiscal year 2009/2010, ended February 28, 2010, net sales of approximately USD 50 million (approximately EUR 36 million) at a clear positive free cash flow and at an EBITDA margin accretive to the EBITDA margin of Kapsch TrafficCom Group generated in its last fiscal year 2009/2010, ended March 31, 2010.
Kapsch TrafficCom is an international supplier of superior intelligent transportation systems (ITS). Its principle business is the development and supply of electronic toll collection (ETC) systems, in particular for the multi-lane free-flow (MLFF) of the traffic, and the technical and commercial operation of such systems. Kapsch TrafficCom also supplies traffic management systems, with a focus on road safety and traffic control, and electronic access systems and parking management. With approximately 240 references in 39 countries on all 5 continents, and with more than 18 million transponders (on-board units - OBUs) delivered and nearly 13,000 lanes equipped, Kapsch TrafficCom has positioned itself among the leading suppliers of ETC systems worldwide. Kapsch TrafficCom is headquartered in Vienna, Austria, and has subsidiaries and representative offices in 25 countries. With currently almost 1,500 employees, Kapsch TrafficCom Group generated revenues of EUR 216 million (approximately USD 300 million) in its last fiscal year 2009/2010, ended March 31, 2010.
Disclaimer
This ad-hoc release constitutes neither an offer to sell nor a solicitation to buy any securities.
This ad-hoc release and the information it contains are not for
publication in the United States of America (U.S.A.) and may not be
distributed to U.S. persons (as defined in Regulation S of the U.S.
Securities Act ("Securities Act") of 1933, as amended) or to
publications with a general circulation in the U.S.A. This stock
exchange announcement does not constitute an offer for the sale of
securities or solicitation of an offer to purchase securities in the
U.S.A. The securities of Kapsch TrafficCom AG have not been
registered under the provisions of the Securities Act and may not be
offered, sold or delivered to U.S. persons without prior registration
under or exemption from the registration requirements.This ad-hoc release is exclusively addressed to persons (i) outside
the United Kingdom, or (ii) who are investment professionals for the
purposes of article 19(5) U.K. Financial Services and Markets Act
2000 (Financial Promotion) Order 2005 (the "Order"), as amended, or
(iii) who are included under article 49(2)(a)-(d) of the Order ("high
net worth companies, unincorporated associations, etc.). All such
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press release or the information contained herein or rely thereon.
Investment or investment activities in connection with this press
release are only available to Relevant Persons, and investment
business will only be transacted with Relevant Persons.end of announcement euro adhoc
Further inquiry note:
Marcus Handl
Investor Relations
Kapsch TrafficCom AG
Phone: +43 (0) 50 811 1120
Am Europlatz 2, A-1120 Vienna, Austria
E-mail: ir.kapschtraffic@kapsch.net
www.kapschtraffic.com
Branche: Technology
ISIN: AT000KAPSCH9
WKN:
Index: Prime Market
Börsen: Wien / official market