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Jena, December 14, 2011 – Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG (DEWB) today announced the sale of its investment holding KSW Microtec Holding AG and its operational subsidiary, KSW Microtec AG, Dresden. The purchaser is SMARTRAC N.V, Amsterdam, Netherlands, a leading developer, manufacturer and supplier of RFID transponders. SMARTRAC will take over KSW for total cash consideration of EUR 24 million. The payment will be made in three tranches. The first tranche, in the amount of EUR 12 million, will be made upon closing of the transaction. Two additional tranches, in the amount of EUR 6 million each, are due on August 31, 2012 and December 31, 2013, respectively. Payment of the second and third tranches is not linked to the achievement of any performance measures. DEWB has been associated with KSW since 2001, initially with a 10 percent share in the company. In 2006, as part of a leveraged buyout, DEWB acquired a share of 100 percent in the company. KSW currently employs 72 staff in Dresden and is projecting a turnover of approximately EUR 12 million in the current financial year.
“Over the past few years, we have worked consistently at developing KSW, from its position as a mass supplier in the standard inlay business, to that of an innovator within the RFID industry, supplying technologically advanced products. Therefore, we have been able to successfully position KSW on the market. We are delighted to have won SMARTRAC, the world leader in RFID inlays for ePassports and ePayment applications, as purchaser“, said Falk Nuber, Member of the Management Board of DEWB AG. “The association of SMARTRAC and KSW, and the combination of their respective well-established alternative engineering concepts, will create a unique and comprehensive product and technology portfolio in the industry.
The sale of KSW is the fourth exit by DEWB in the last six months. DEWB is planning to close the current financial year with a significant annual net profit. The outlook regarding the equity per share for the year-end is above EUR 2.15. Details will be published in January along with preliminary figures for 2011.
SMARTRAC is a leading developer, manufacturer, and supplier of RFID components for a broad range of applications in all current frequency standards. The company produces both ready-made and customized transponders for public transport, access control, RFID-based car immobilizers, animal identification, libraries, industry, and logistics.
SMARTRAC is the global market leader in high-quality RFID inlays for electronic passports (e-passports) and contactless credit cards (e-payment) as well as for RFID transponders for public transportation applications. SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs some 3,300 employees and maintains a global research and development, production, and sales network.