Glaston Closes A+W Software Acquisition

Glaston Corporation has closed the acquisition, by which it purchases the entire share capital of the glass industry software company, A+W Software AG Group, according to the agreement signed on 31 May 2007.

The purchase price was settled at 20.3 million euros.

As part of the Glaston Group as of today, A+W Software continues to function as a business area of its own.

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.

Read the entire story on the source link below.

600450 Glaston Closes A+W Software Acquisition
Date: 5 July 2007

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