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DATADOT TECHNOLOGY LIMITED — M&A Activity 2012
Jun 24, 2012
64764_rns_2012-06-24_017e839c-b7d9-4366-8128-f9c879740493.pdf
M&A Activity
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DataDot Technology Limited ABN 54 091 908 726
Securities Exchange Announcement
25[th] June 2012
Acquisition of Ipeco Interest in AgTechnix
The Directors of DataDot Technology Limited (ASX:DDT) announce that an agreement has been executed with Ipeco Pty Limited to acquire Ipeco’s interest in AgTechnix Pty Limited. The acquisition will transfer to DDT the 49% of shares in AgTechnix not already owned by DDT, so making AgTechnix a fully integrated, wholly-owned subsidiary of DDT.
DDT now becomes the sole beneficial owner of the Intelliseed[®] intellectual property.
The transfer has been undertaken to better utilise existing product support capacity within DDT and to rationalise operating costs, including the costs to DDT and Ipeco of maintaining a separate JV company. The shares were transferred for a nominal consideration.
Ipeco and DDT will continue to work closely together. The companies have agreed to enter into negotiations to supply DataTrace products and license Intelliseed[®] to Ipeco for sale in the agricultural sector.
DDT will continue to pursue direct sales of DDT’s agricultural product suite to major agricultural seed and chemical companies, including continuation of existing product trials and commercial negotiations currently underway.
Contact Information:
DataDot Technology Limited
Bruce Rathie, Executive Chairman Phone: 02 - 89774900 e-mail: [email protected] web site: www.datadotdna.com