London and Detroit, August 18, 2005 – INCAT International plc, a provider of software solutions and associated services to automotive, aerospace and industrial manufacturers announced today that a qualified bidder has made an offer for all INCAT shares. The bidder is Tata Technologies, a subsidiary of Tata Motors and a part of the India-based Tata Group.
The INCAT Board of Directors is supporting the acquisition and recommending it to the company’s shareholders. All executive directors are committed to remain with INCAT.
“We are confident that this acquisition will be good for the company, for our employees, for our business partners and for our clients worldwide,” Said INCAT CEO Ulrich Herter. “We are excited about the synergies of our two organizations and about our prospects for the future.”
The acquisition will expand the INCAT worldwide footprint and will make INCAT a much stronger force in Asia and Europe. Marketing of most INCAT products and services will continue under the INCAT brand, according to Herter.
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About INCAT
INCAT (RIC: ICN.L) is listed on AIM, a market operated by the London Stock Exchange. Founded in 1989, INCAT is an international provider of software services and solutions focused on Product Lifecycle Management (PLM), principally to the automotive, aerospace and durable goods manufacturing industries. PLM seeks to improve a manufacturing company’s product development processes and its ability to use product-related information to make better business decisions and deliver better products to its clients.
INCAT is headquartered in the UK (Bristol) and in North America (Detroit) with offices in France, Mexico, Germany, Canada, Japan, Singapore and the Netherlands. INCAT employs more than 700 people, and has more than 2,000 clients worldwide including Ford, DaimlerChrysler, Honda, Northrop Grumman, Boeing, Airbus, BAE Systems, AugustaWestland and Joy Mining. For further information, visit the website: www.incat.com
INCAT Contacts
Financial Press:
Sara Musgrave or Sarah Richardson
Smithfield (UK)
011 020 7360 4900
or smusgrave@smithfieldgroup.com
Investor Relations:
Joseph Ben-Gal
Vice President – Business Development
1-248-426-1726
or jben-gal@incat.com
North America Press:
Daniel Saad
Corporate Communications Mgr. – NA
1-248-426-1841
or dsaad@incat.com