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Fugro N.V. — M&A Activity 2009
Jun 8, 2009
3845_iss_2009-06-08_12bfb980-1036-4f09-935b-fa1869e4869c.pdf
M&A Activity
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PRESS RELEASE
Leidschendam, the Netherlands, 8 June 2009
Fugro acquires Tenix LADS
Fugro has agreed in principle to acquire the Tenix LADS business from the Australian based company Tenix Pty Ltd. Tenix LADS is a leading global provider of Airborne Hydrographic services, which uses lasers to measure water depths. The laser technology (known as LIDAR) in use is a LADS proprietary system.
Tenix LADS has annual revenues in the order of EUR 12.5 million, from its global contracts with governments and commercial enterprises. These contracts are generally for hydrographic mapping purposes, but also include survey tasks for habitat mapping and measuring the effects of climate change. Tenix LADS also has a 10 year contract with the Commonwealth of Australia to support the Commonwealth's own laser system. The relationship with the Commonwealth of Australia dates back to the 1990's with the development of the laser system.
LADS employs around 60 people and is based in Adelaide, Australia with field offices in Cairns, Australia and Biloxi, Mississippi, United States of America.
Completion of this acquisition is likely to be early in Quarter 3 2009, following the satisfaction of certain settlement conditions. Tenix LADS will be renamed Fugro LADS and will be part of the Offshore Survey Business Line.
For further information: Fugro N.V. K.S. Wester, President and CEO Telephone + 31 70 311 11 12
Fugro collects, processes and interprets data related to the earth's surface and soil composition and provides advice based on the results. As an extension to these activities, Fugro provides services such as precise positioning, construction materials testing, reservoir engineering and data management. Fugro's operations have been organized into three divisions: Geotechnical, Survey and Geoscience. Fugro is listed on Euronext Amsterdam and is included in the AEX-Index. Fugro has approximately 13,500 employees in more than fifty countries.