LS telcom AG

M&A Activity • May 28, 2002

News Details

Ad-hoc | 28 May 2002 09:16

LS telcom AG english

LS telcom acquires business of AGRA Spectrocan Ltd., Canada Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Enhancement of market-leading role in the Software for Regulatory Authorities business First point-of-presence in North-America Consulting for regulators enlarges LS telcoms product portfolio Lichtenau / Ottawa, May 28, 2002. With effective date of June 01st, 2002, LS telcom will take over all relevant intangible assets (IPR) and staff from AGRA Spectrocan Ltd., Canada, a subsidiary of the AMEC group, U.K. From the above date, a newly established, 100% LS telcom subsidiary located in Ottawa, will pursue the business of former AGRA Spectrocan Ltd. Spectrocan have been active in consulting and software for regulatory organisations since 1982, leading that niche market until the mid nineties. Since 1990, Spectrocan in this market has achieved cumulated revenues in a range of EUR 80 million. It has a strong branding, an excellent renommee in the market and an existing customer basis in Asia, South America and Canada. Besides, Spectrocan possess good relations, which can be of use when entering into the African markets. LS telcom with this acquisition will not only enhance its market leading role in the Software for Regulatory Authorities segment, but also obtain additional consulting competence and enlarge their resources in product sales. The new Canadian subsidiary is giving LS telcom a first point of presence in North America. Furthermore, LS telcom expects that by using the existing customer basis there, through this new POP the whole North-American market can be approached. The new Canadian subsidiary is planned to contribute positively to the net income from October 2002. Besides Sailesh Thaker, former Vice President of AGRA Spectrocan, also Dr. Georg Schöne, Member of the Executive Board of LS telcom, will become member of the Management Board. end of ad-hoc-announcement (c)DGAP 28.05.2002 ——————————————————————————– WKN: 575440; ISIN: DE0005754402; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 280916 Mai 02