EANS-News: S&T AG to focus smart energy operations on Central and Eastern Europe markets
01.12.2015 – 23:04
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Mergers - Acquisitions - Takeovers Linz, 1.12.2015. S&T AG and the high-tech group that it heads plan to focus their smart grid operations on their main and longstanding home markets in Central and Eastern Europe. To that end, S&T plans to acquire 100% of the equity in the Europe-based Networked Energy Services GmbH ("NES"), which is a subsidiary of Networked Energy Services Corp. ("NES Corp."). In a reciprocal development, S&T's 56% stake in the California-based NES Corp. would be transferred. Negotiations have been already started. NES Corp. and the S&T Group would set forth their close working relationships in the areas of technology development and distribution. Whilst doing this, the S&T Group will concentrate on serving its core markets of Eastern Europe and the German-speaking region (Germany, Austria and Switzerland). "We intend a clearly-formulated focus and a transparent structure for getting advantages in our operative business and our relations with investors," reports Hannes Niederhauser, S&T's CEO, the planned changes. "S&T AG would enhance its status of being a full-selection provider of smart energy technologies to the Central and Eastern European markets. This product selection includes both, smart metering products and dedicated software designed to meet the needs of these regions." On S&T AG: S&T AG (www.snt.at, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is a high-tech corporation. It employs some 2,300 employees, and maintains subsidiaries and offices in 19 countries. S&T AG provides IT systems. It is listed on the Frankfurt Stock Exchange's Prime Standard segment. These systems are comprised in the company's comprehensive portfolio of IT solutions and services. These make S&T one of the leading suppliers in Central and Eastern Europe. S&T is a renowned manufacturer of products featuring proprietary technologies. Its wide- ranging portfolio includes innovations in such areas as appliances, cloud security and smart energy. Further inquiry note: ir@snt.at; +431801911125; end of announcement euro adhoc -------------------------------------------------------------------------------- company: S&T AG Industriezeile 35 A-4021 Linz phone: +43 664 6119214 FAX: +43 1 80191 1290 mail: ir@snt.at WWW: www.snt.at sector: Computing & Information Technology ISIN: AT0000A0E9W5, DE000A1HJLL6 indexes: stockmarkets: regulated dealing/prime standard: Frankfurt language: English