A+W: Information about the upcoming change of ownership

Dear business partner, On 19 October, Glaston Corporation announced that they were conducting exclusive negotiations about the sale of their software solutions business – the name of the buyer could not be disclosed at that time however.

On November 12th, the Friedman Group has signed the contract with Glaston for the sale of the shares of ALBAT+WIRSAM Software GmbH (“A+W“) including all its international subsidiaries and offices subject to the conclusion of certain closing conditions including competition authorities approval. The closing of the transaction is expected to take place by the end of this year.

Friedman Group is an American software group specializing in business applications (ERP solutions) for the manufacturing sector. With A+W, Friedman have effected a “platform acquisition“– this means that A+W will be leading the glass and window sector within the Friedman Group.

Friedman is part of the stock exchange-listed Constellation Software Group (CSU: Toronto) which is one of the “heavyweights” in the software industry with more than 3500 employees and a turnover of approx. 820 million Dollars.

After the transaction has been closed Glaston can now focus on their core business of glass processing machinery and the related services and tools. As with other leading machinery manufacturers, we will maintain excellent partner contacts with Glaston.

What is going to change for you as our customer? In the daily business, actually nothing. A+W will remain an independent company within the Friedman Corporation and will go on developing, marketing, and installing software for the glass and window industry along with the corresponding service. Your familiar contacts will remain there for you too.

Due to Friedman’s strong presence on the American market, we shall however be able to realize our growth strategy much better and with a lot more support. This will help both Friedman and A+W strengthen our combined presence in the international markets. Furthermore, this will benefit our existing customers because the broader regional base will enable us to mitigate economic risks and thus build up our service. New development projects will be set on a broader basis and can be implemented faster and more efficiently, which again will benefit A+W customers world-wide.

Thus, we shall be able to continue and even speed up the positive business development and customer interaction of the last few years for our mutual benefit.

You can trust in A+W as your reliable partner.

Your customary contact at A+W as well as the members of the A+W Management Board shall be glad to explain this positive development to you. 

Sincerely yours,

Dr. Uwe Schmid

CEO ALBAT+WIRSAM Software GmbH

600450 A+W: Information about the upcoming change of ownership glassonweb.com

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