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SMT & Inspection | April 21, 2009

Micronic acquires MYDATA

Micronic Laser Systems and Skanditek Industriförvaltning have signed a letter of intent whereby Micronic intends to acquire MYDATA automation.
The transaction is structured so that Micronic Laser Systems acquires MYDATA automation from Skanditek Industriförvaltning and the minority shareholders against payment in the form of newly issued shares in Micronic. Following the transaction, Skanditek Industriförvaltning will be the largest shareholder in Micronic, owning close to 38 per cent of the capital and vote.

The combined company will have a revenue of approximately SEK 1.2 billion annually, employ 640 people and have a market presence in more than 40 countries. MYDATA will become a part of a listed company, where Skanditek will continue to be the major shareholder. The key rationale is to combine the strengths of two leading companies developing capital equipment for the imaging and electronics industries. The combined company will operate from a stronger financial position and have increased possibilities for future growth.

The foundation for merging Micronic and MYDATA lies upon the core values and competencies that both companies share today. Both companies are committed to a high degree of innovation and to developing leading products in their respective fields. The merged company will be able to exploit operational synergies over time, such as product development and production by combining competences and know-how.

“Today the two companies address different market segments in the electronics industry. There is a strong trend, driven by the development in the consumer electronic segment, of closing the gap between the traditional semiconductor and SMT-industries. We see an interesting and real opportunity to combine technologies from both companies to exploit the possibilities in this new segment” says MYDATA CEO Bengt Broman.

The combined company will continue to operate the existing businesses separated. For the SMTsegment the combined company will stay on the same strategic direction as before and will remain committed to continue the business, without disruption, as the leader of solutions for flexible electronics production.

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