|
|||
![]() |
|||
2010-05-06 08:15:00 CEST 2010-05-06 08:15:46 CEST REGULATED INFORMATION Aldata Solution Oyj - Tender offerALDATA ACQUIRES UK ASSORTMENT MANAGEMENT SPECIALIST COSMIC SOLUTIONS LTDAldata Solution Oyj STOCK EXCHANGE RELEASE 6 May 2010 at 9.15 a.m. (EET) ALDATA ACQUIRES UK ASSORTMENT MANAGEMENT SPECIALIST COSMIC SOLUTIONS LTD Acquisition will help retailers and manufacturers reduce waste and costs in the supply chain Aldata Solution Oyj has signed an agreement for Aldata to acquire all of the shares of Cosmic Solutions Limited, a specialist UK provider of category management software, helping retailers better respond to changes in customer demand, reduce waste, and increase shopper satisfaction. "The acquisition of Cosmic represents the second step in our Integrated Category Management strategy following the acquisition of Apollo Space Management in 2008," said Bertrand Sciard, President and CEO of Aldata."Combined with our best of breed Retail Space, Replenishment and Supply Chain suites it will provide our customers with unique capabilities to plan and deliver accurately across multiple store sizes, and formats.""We are very excited to be joining a business with the same focus, dedication, and values that Cosmic has held for 18 years. Our long and trusted relationships with CPG suppliers reflect Aldata's similar relations with global retailers," said David Wilkins, Managing Director of Cosmic. "Together we can deliver new levels of effective category management optimized for both sets of customers. Description of acquired company Aldata is acquiring 100% of the issued shares of Cosmic Solutions Limited, a privately owned company, in the deal from its existing 8 shareholders. Cosmic Solutions Limited owns 100% of Cosmic's subsidiaries in UK, France and USA. Cosmic has in total 25 employees, of whom 21 are based in the UK, 3 are based in France and 1 is based in US. In addition there are currently 4 subcontractors used for both sales and services work. As an independent company, Cosmic Solutions was responsible for sales and marketing activities, implementation and support services as well as product development. Cosmic Solutions generated in the year ending 31st December 2009 GBP 1.9 million in net sales and an EBIT of GBP 0.4 million, adjusted to reflect how it would be reported within Aldata's results. Cosmic Solutions has been able to grow its revenue in each of the last 5 years that were reviewed and has delivered a profitable result for each of those years. Deal structure The total purchase price for Cosmic Solutions consists of following items: * GBP 2.0 million (EUR 2.3 million) paid in cash on signing. * A maximum GBP 1.0 million (EUR 1.2 million) of deferred consideration, paid in cash based on the achievement of revenue growth targets to be measured at the end of April 2011, 2012 and 2013. The deferred consideration payment amount is split evenly over the three annual revenue targets. * Uncapped earn out based on a reducing percentage of revenue achieved over and above the annual revenue targets for the deferred consideration. The share purchase agreement has been executed and the transaction is being completed today. Decision making process Cosmic Solutions Limited has no prior dependency on Aldata Solution Oyj, its subsidiaries, management team and members of the board of directors. All members of the Board of Directors participated in the decision-making in relation to the transaction. No change in Aldata's 2010 outlook Prior to this announcement, Aldata's 2010 future outlook, as included in the recently released Q1 2010 interim results stock exchange release, was that it expected net sales for 2010 to grow slightly on 2009 levels and to generate a profitable operative result (EBIT) for the full-year. This acquisition will bring additional revenue and operating profit to Aldata for the remaining 8 months of 2010 and will provide additional support to help Aldata achieve its future outlook. The size of the revenue generated by Cosmic today, and the forecasted revenue for the remainder of 2010 are not that sufficient to materially change the current future outlook. Helsinki, May 6, 2010 Aldata Solution Oyj Board of Directors Further information: Graham Howell, CFO, tel. +33 6 33 05 76 20 About Aldata Aldata is a global leader in the supply of integrated business solutions to organizations that serve the retail consumer and wholesale distribution markets. Aldata has an unparalleled 20-year track record of delivering targeted software projects that substantially improve our customers' businesses, from supplier to shopper. Today, Aldata customers include 15 of the World's 30 largest retailers, thousands of retail brands, and hundreds of national and regional chains. Aldata Solution is a public company quoted on NASDAQ OMX Helsinki Ltd with the identifier ALD1V. More at:www.aldata-solution.com<http://www.aldata-solution.com/> About Cosmic Cosmic Solutions, based near Nottingham, England, is a global specialist in consumer product category management, calculating the optimum mix of products to meet shopper, supplier and retailer objectives. Cosmic has an 18 year track record of improving category profitability for the world's major consumer product companies and their retail partners. Today Cosmic products are used in over 30 countries worldwide. More at:www.cosmic-solutions.com<http://www.cosmic-solutions.com/> Distribution: NASDAQ OMX Helsinki Ltd Media [HUG#1412406] |
|||
|