IVU Traffic Technologies AG — M&A Activity 2001

Jun 11, 2001

News Details

Ad-hoc | 11 June 2001 07:04

IVU Traffic Technologies english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Berlin, June 11, 2001. IVU Traffic Technologies AG (SIN 744 850) has retroactively (as of 1 June 2001), acquired all shares of TTi Systems AG, Hanover. TTi AG has 220 employees, who work in the business areas, telematics, as well IT solutions for passenger transportation in Germany, United Kingdom and North America. The cooperation between IVU and TTi has been tried and tested over several years. TTi will continue to exist as an independent company under the brand name IVU. For business year 2000, TTi’s revenues amounted to DM 32 million. The purchase price consists, in part, of a profit based cash component, and just under 470,000 new IVU shares from authorized capital without subscription rights. This capital has a minimum holding period of six months after entry into the commercial register, and has additional selling restrictions. Due to the expected consolidation effects, the IVU executive board has now raised expected revenues from previously DM 56 million to DM 68 million. The expected EBIT of DM 9 million remains unchanged due to expected integration costs. TTi’s existing strong focus on computer-aided operations and ticketing systems, which are products complimentary to the IVU portfolio, enables IVU to offer complete solutions to the passenger transportation industry. In Germany, it increases IVU’s market share from 30% to over 50%. Additionally, IVU can expand its customer base by over 400 new customers, which includes transportation companies in Atlanta, Amsterdam, London, Washington, Toronto, Vienna, Dublin, Düsseldorf, Hanover, Seattle, and Poznan. This project has received approval by the German federal cartel office. For further information, please contact: IVU Traffic Technologies AG Investor Relations Nicola Gehrt Tel.: +49. 30. 8 59 06-272 Fax: +49. 30. 8 59 06-111 Internet: www.ivu.de e-mail: ng@ivu.de end of ad hoc announcement (c) DGAP 11.06.2001 ——————————————————————————– WKN: 744850; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 110704 Jun 01