The purchase price for the entire share capital of the parent company and its main subsidiaries is 21 million euros. The closing of the transaction is expected to take place on 2 July 2007.
Glaston’s President & CEO Mika Seitovirta comments:
“This acquisition is in line with our strategy and strengthens Glaston’s market leadership and One-Stop-Partner service concept. With this acquisition, we gain a significant position in production management software for glass processing. Production management software solutions are increasingly requested by customers as software is the glue that ties all the production machinery together in an efficient way.”
“Albat + Wirsam is the market leader in its field and a well-run company with a convincing track record. The founders and the current management team have been instrumental in building up the A+W success story. As a Glaston group company, Albat + Wirsam will retain a high level of independence and will continue to develop its business together with its various technology partners to serve A+W´s existing and future customers in the best possible way,” Seitovirta continues.
Dr Bernd Wirsam, Chairman of the Supervisory Board:
“As an optimization innovator and developer I am excited about this opportunity, and what Glaston and we can offer to our clientele now and in the future. With the combined expertise we are better positioned to enlarge our software solutions portfolio to cover new areas in glass production with a view to enhance production efficiency of our customers.”
Mr Günter Befort continues as the CEO of A+W Group, and will also be member of the Glaston Executive Committee.
“I am convinced that belonging to the Glaston group will strengthen A+W’s global reach and support sales efforts especially in North America and Asia.”
As part of the transaction, Glaston and A+W founder Dr Wirsam have agreed that Dr Wirsam will buy 329,904 shares of treasury shares currently owned by Glaston for 3.99 euros per share.