AudioDev acquires ETA-Optik and enters a new phase
The acquisition of ETA-Optik enhances AudioDev's position in optical media while adding new technology and applications. It also marks the beginning of a new phase for AudioDev with a greater focus being put on acquisitions.
As a part of the process of strengthening the company's financial standing in the future, the Board is proposing a dividend of SEK 0.00 (2.42) per share for 2006.
AudioDev AB (publ.) has acquired STEAG ETA-Optik GmbH from HamaTech AG owned by Singulus Technologies AG, Germany.
ETA-Optik has great technological expertise in measurement techniques and spectrometry. Their product range includes both in-line (scanners) and off-line analyzers, which complements AudioDev's products in optical media. In addition, the company has products for applications outside of optical media that provide a platform for increased growth in new markets. ETA-Optik sales were EUR 4.85 million in 2006, with around 60 percent of the business in optical media and the remaining 40 percent in other fields. The main office is located in Heinsberg, Germany, and the company has about 40 employees, working primarily in research and development.
“Through this acquisition we can offer our customers a wider product range and more complete testing solutions. It also means that we can utilise our global sales and service organisation more effectively. We regard this as an important first step in our acquisition strategy,”says Christer Sjöström, CEO at AudioDev.
ETA-Optik was acquired on February 8, 2007 and was consolidated from that date. The company has undergone significant restructuring in 2006, and is expected to return a modest profit in 2007, excluding integration costs. The integration costs are estimated at SEK 7 million.
The purchase price, which is paid in cash, totals EUR 3.25 million. As part of the agreement, Singulus Technologies will continue to employ measuring equipment by ETA-Optik for optical disc replication lines in the future.
FOCUS ON ACQUISITIONS IMPACTS ON THIS YEAR'S DIVIDEND PROPOSAL
The optical media industry has been characterised by restricted investment in production and test equipment in 2006, which has continued into the fourth quarter. In order to pursue a strategy of growth in optical media while at the same time expanding the business to cover closely allied technical fields, AudioDev is looking to make more acquisitions in the future. In the light of this, the Board is recommending a dividend of SEK 0.00 (2.42) per share for 2006. More information on the dividend proposal will be published in AudioDev's year-end report on February 14.
Contact information:
Christer Sjöström, CEO and Group Chief Executive
Tel: +46 40 690 49 00, +46,705 45 64 55
E-mail: christer.sjostrom@audiodev.com
Marielle Noble, Investor Relations
Tel: +46 40 690 49 05, +46,709 69 49 80
E-mail: marielle.noble@audiodev.com