ICT SIGNS LETTER OF INTENT TO ACQUIRE SYSTEM INTEGRATOR RASTER
ICT Automatisering (ICT) announces that today it has signed a letter of intent to acquire 100% of the shares of Raster Holding BV (RASTER), a Dutch based system integrator. The intended acquisition marks a significant step in the growth strategy of ICT. The acquisition will have a direct positive impact on ICT’s earnings as of the closing date, anticipated in August 2015.
RASTER operates in the domain of Industrial Automation and more specifically in the area of industrial process automation, production automation, software development and consultancy. RASTER is a project-oriented system integrator with reputable customers in defined segments. In addition RASTER imports and distributes industrial equipment in partnership with industrial software vendors. RASTER is also the owner of its proprietary software development platform (‘foundation software’).
RASTER, with some 20 highly educated professionals, is well-known and respected in our markets, and brings ICT significantly closer to realizing its ambitions in Industrial Automation markets. RASTER delivers its services to multinationals and Dutch companies with international operations active in Oil & Gas, offshore, heavy lifting, chemicals, pharmaceuticals and defence sectors. The combination of the Industrial Automation activities of both companies offers a strong platform for partnerships with the main industrial software vendors, such as Schneider Electric, Siemens and Rockwell. RASTER will facilitate the ambitions of ICT to grow with self-developed solutions.
The purchase consideration comprises a cash payment and an amount in ICT shares. Further details will be disclosed at closing. During 2012 – 2014 RASTER realised profitable revenues of around EUR 4 to 5 million per annum.
Jos Blejie, CEO of ICT: “I am delighted that the founders of RASTER are willing to join forces with ICT. The acquisition of RASTER will substantially enrich our Industrial Automation activities and will further improve ICT’s position as a total solutions provider and open up new markets and customers.”
Jan Dekker, CEO of RASTER: “By joining ICT, RASTER will enter a new stage in its development. Together the combination can deliver the full breadth of capabilities in the Industrial Automation market. The transfer of ICT shares to the founders of RASTER underlines the trust we have in a long term relationship with ICT.”
RASTER will stay an independent business unit on its current location and under its current label within ICT. The management of RASTER remains committed.