Home Featured Meyer Burger is selling its software business to S&T AG for CHF 14 million in cash
Meyer Burger is selling its software business to S&T AG for CHF 14 million in cash

Meyer Burger is selling its software business to S&T AG for CHF 14 million in cash

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Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) announced today that it is selling its subsidiary AIS Automation Dresden GmbH (Germany) to S&T AG in Linz (Austria). The two companies signed a contract to this effect on October 24, 2019. S&T AG is taking over all business units of AIS as well as the roughly 140 employees. The contract is subject to the customary completion conditions and has to be approved by the antitrust authorities in Germany. The transaction will therefore probably be completed towards the end of November 2019. The agreed purchase price is in the order of CHF 14 million in cash, which is about one times sales of AIS. Meyer Burger anticipates an accounting profit arising from the transaction of around CHF 2 million. This accounting profit arises net after a goodwill recycling charge of just under CHF 5 million.

AIS offers its customers innovative, flexible and cost-effective software solutions in the area of automation technology and information technology. Here, the system and software company focuses on solutions for Industry 4.0. The smart software solutions support companies in the transition to the Internet of Things (IoT), making them fit for the digital future. Meyer Burger will continue to obtain certain services from AIS Automation Dresden GmbH.

S&T AG (www.snt.at) is an Austrian technology corporation, headquartered in Linz, Austria, operating with around 4,800 employees in 30 countries. With its “IoT Solutions” segments, S&T is a leading international supplier of services, products and proprietary technologies in the fields of Internet of Things (IoT), Industry 4.0 and Embedded Computing Technology (ECT). The company is also a renowned supplier of IT systems. S&T AG (ISIN: AT000000A0E9W5, WKN: A0X9EJ) is listed on the TecDAX® and SDAX® of the Frankfurt Stock Exchange in Germany.

Hans Brändle, CEO of Meyer Burger: “The sale of AIS to S&T AG is a compelling solution for all parties involved. The IT and software solutions developed by AIS are in better hands with its new owners. It will enable Meyer Burger to concentrate more strongly on the strategic PV business with the successful heterojunction / SmartWire technology as well as some promising next-generation cell technologies.”

About Meyer Burger Technology AG

www.meyerburger.com

Meyer Burger is a leading technology company with a global presence, specializing in innovative systems and production equipment for the photovoltaic (solar), semiconductor and optoelectronics industries. As an internationally renowned premium brand, Meyer Burger offers its customers in the PV industry dependable precision products and innovative solutions for the manufacture of high-efficiency solar cells and solar modules.

The comprehensive product range is complemented by a worldwide service network with spare and wearing parts, consumables, process know-how, maintenance and after-sales service, training courses and additional services. Meyer Burger is represented in the respective key markets in Europe, Asia and North America and has subsidiaries and its own service centers in China, Germany, India, Japan, Korea, Malaysia, the Netherlands, Switzerland, Singapore, Taiwan and the USA. At the same time, the company is also intensively developing the new PV markets in South America, Africa and the Arab region. The registered shares in Meyer Burger Technology AG are listed on the SIX Swiss Exchange (ticker: MBTN).

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED DIRECTLY OR INDIRECTLY TO U.S. PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES OF AMERICA. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR, EXCHANGE OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF MEYER BURGER TECHNOLOGY LTD HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES OF AMERICA SECURITIES LAWS.

This media release may contain statements referring to the future, such as expectations, plans, intentions or strategies concerning the future. Such statements involve uncertainties and risks. Readers must therefore be aware that such statements can diverge from actual future occurrences. All statements concerning the future in this media release are based on data which were available to Meyer Burger Technology AG at the time of publishing this media release. The company does not undertake to update future-oriented statements made in this media release at a later date on the basis of new information, future events or suchlike.

Source: meyerburger
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Anand Gupta Editor - EQ Int'l Media Network