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SMARTRAC N.V. announced that the company signed a contract with Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG, Jena, Germany, regarding the acquisition of KSW Microtec AG by SMARTRAC N.V. at an amount of EUR 24 million enterprise value. The purchase price is payable in three tranches. The first tranche in the amount of EUR 12 million is due at closing of the acquisition, and the two additional tranches in the amount of EUR 6 million each will become due on August 31, 2012 and December 31, 2013, respectively. The acquisition is subject to standard closing conditions.
KSW Microtec AG (KSW) and the totality of its 72 employees will continue their business activity in Dresden under the new ownership.
KSW and SMARTRAC have very similar positions in the global RFID value chain. Thus, the acquisition will not create any channel conflicts. The long-term expertise of KSW in the high frequency (HF) and ultra-high frequency (UHF) RFID inlay production and proprietary know-how of KSW are expected to contribute to strengthening SMARTRAC’s technology base. Synergies are also expected to result from joint research and development activities.
About KSW Microtec AG:
KSW Microtec AG, founded in 1994, with its headquarters in Germany, is one of the world’s leading suppliers of contactless components for applications such as Access Control, eGovernment, ePayment, eTicketing and Asset Management. KSW combines successfully high-end wafer processing, extremely efficient assembly and lamination technology and far-reaching expertise in design. KSW has earned itself a leading position on the market as innovator and one of the most efficient, and simultaneously most flexible, producers of RFID components. For more information visit: http://www.ksw-microtec.de
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.
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