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© Data Respons Embedded | December 01, 2017

Data Respons acquires EPOS CAT in Germany

Embedded specialist, Data Respons ASA, has signed an agreement to acquire 100% of the shares in EPOS CAT GmbH, a German software technology and R&D services company.
EPOS CAT is headquartered in Ingolstadt and has about 100 employees. The company is a specialist provider to the automotive industry offering advanced computer aided testing (CAT), R&D IT services, software development and systems integration.

“With this acquisition, we continue to expand our footprint in Germany, the largest market in Europe. EPOS CAT is a highly regarded industrial digitalization specialist to the automotive industry offering a wide range of services including advanced digital measuring and testing solutions assisting the continuous R&D processes, a cost efficient solution ensuring high quality in the software development. Their specialist competence offers great synergies and strengthens Data Respons' position as a complete technology partner for industrial digitalization, smarter embedded and IoT solutions,” says Kenneth Ragnvaldsen, CEO of Data Respons.

EPOS CAT expect a turnover of EUR 9.2 million in 2017 and an EBIT of EUR 2.6 million, equal to an EBIT margin of 28%. The transaction is structured as an earn-out with an upfront consideration of EUR 9.8 million due at closing and an additional amount based on the company's EBIT performance over the next 3 years (2018, 2019 and 2020). The total consideration for the purchase will be determined by the average EBIT during the next 3 years multiplied by 7.0x (however not lower than the upfront amount of 9.8 MEUR).

“Data Respons shares the same value and vision as we have built our company on over the last 17 years. Both companies are developing and implementing innovative technology solutions for the future in close collaboration with our customers. Joining forces with Data Respons will enable us to capitalize on our knowledge and expand into new industries and markets,” says Günter See, Managing Director of EPOS CAT.

The transaction is expected to close within the next 2 weeks.

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December 04 2017 9:30 PM V8.9.2-2