AGELLIS acquired product rights from Metsol AB
Agellis Group has acquired the rights to all products based on infrared camera technology from the Swedish company Metsol AB. With this acquisition Agellis significantly strengthens its position as a supplier for measuring systems for the metals industry.
The products acquired are based on IR (infrared) camera technology that is used in a variety of measurement applications in the steel and non-ferrous industries. The acquired products complement Agellis existing products based on the EMLI platform and clear synergies in sales can be seen when the acquired products are introduced in Agellis the existing agent network around the world.
The Infrared products are expected to have a limited impact on sales during the current year.
“We have had many years cooperation with Metsol and have identified an increased interest from our customers in products based on infrared technology. The acquired products fit well into our existing product portfolio. Both IR and EMLI products are demanded by the same customers, says Patrik Bloemer, CEO of Agellis.”
“With this deal the acquired products will get access to the Agellis global agent network which already has a good relationship with potential customers and a fast track to reach an international market, says Mårten Görnerup, CEO of Metsol. By using our existing Scandinavian references an international introduction can immediately begin.”
The fixed purchase price for the product rights amounted to SEK 160 000 paid in cash and 702 000 newly non-cash issued shares. The non-cash issue results in a dilution of approximately 3.25 per cent. In addition to the fixed purchase price, Metsol is entitled to a variable additional purchase price based on Agellis future sales of the products.
For additional information:
Patrik Bloemer, CEO, Agellis
Telephone: +46 46-101 363, cell: +46 733-170 843
Email: Patrik.bloemer@agellis.com
Mårten Görnerup, MD Metsol AB
Telephone: +46-709-321684
Email: marten@metsol.se
Metsol AB is a Sweden-based company offering metallurgical services and products that assist metal producers in obtaining a safe and more efficient production. The company has a solid metallurgical background and plant experience – know-how that is implemented into projects and products. Metsol AB’s clients are primarily found among the major Nordic metal producers. Visit www.metsol.se for more detailed information.
For additional information:
Patrik Bloemer, CEO, Agellis
Telephone: 46 46-101 363, cell: 46 733-170 843
Email: Patrik.bloemer@agellis.com
AGELLIS Group AB develops and markets modern, robust solutions for global metal producers. Agellis solutions enable increased automation, increased process efficiency and improved safety for personnel within metal production. Agellis is today one of the leading players in its market niche and was founded 2002 and is listed on NASDAQ OMX First North with Consensus Asset Management AB as Certified Adviser. More information can be found at www.agellis.com
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