Matrikon(tm) expands European footprint through acquisition of ICS
| Highlights |
Matrikon continues to expand its presence in the strategic European market with
the acquisition of UK based Industrial Control Software Limited (ICS)
ICS has a solid customer base in Europe and around the globe and technology
that is complementary to Matrikon's
ICS was purchased for £1.78 million in cash
|
Edmonton, Alberta -December 15, 2006
Matrikon (TSX:MTK) is pleased to announce that it has acquired Industrial Control Software Limited (ICS), a profitable private company based in Matlock, England. Established in 1989, ICS provides process control software and alarm monitoring and analysis solutions which are complementary to Matrikon's solutions.
The purchase price was £1.78 million (CDN$4.04 million) in cash for all issued and outstanding shares of ICS. The net assets of ICS are estimated at £0.78 million (CDN$1.78 million).
Ian Brown, Matrikon's vice president for Europe, Middle East and Africa (EMEA) stated: "We are excited to welcome ICS to the Matrikon family. They have good technology, good people, and a solid customer base that will benefit from the synergies of our combined solutions. We continue to see high potential in Europe and will continue to look for opportunities to expand our footprint."
About Matrikon
Matrikon is a leading provider of industrial intelligence solutions that enable manufacturing plants to achieve operational excellence by transforming production data into knowledge to predict and prevent problems and optimize operations. Matrikon's customers achieve agile operations through the combination of external market and plant data to make informed, intelligent decisions in real-time. With offices in major cities throughout North America, Australia, Europe and the Middle East and a global client base including industry leaders in a wide range of process industries, Matrikon's reach is global.
Cautionary note regarding forward-looking statements
This press release contains "forward-looking statements". Some of these statements may involve risks and uncertainties and other factors that may be beyond Matrikon's control and may cause actual results to be materially different from those contained in such forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in Matrikon's filings with the Canadian provincial securities commissions.
Matrikon is a trademark or registered trademark of Matrikon Inc.
For further information:
Nicole Sayler,
Matrikon Investor Relations,
Phone: (780) 945-4010,
nicole.sayler@matrikon.com