Siemens to acquire IBS

A 43-percent share of IBS´s capital stock for Siemens is thus already ensured. As a provider of software solutions for industrial quality management and other applications, IBS is intended to complement the MES business (Manufacturing Execution Systems) of Siemens´ Automation and Drives (A&D) Group. Siemens has informed the Board of Directors and Supervisory Board of IBS AG of its intention to submit a takeover bid. Both IBS boards have indicated that they consider Siemens to be the suitable strategic partner and - subject to a close examination of the tender document - will support the offer. "Not only will IBS shareholders profit from an attractive premium; also our customers will benefit from integrated solutions and strong partners," notes Anton S. Huber, member of the Group executive management at Siemens Automation and Drives. "The product portfolio of IBS will supplement our MES business. We are well positioned with MES offerings in the process industries, for example food, chemical and pharmaceutical. IBS has longstanding, close customer relations in the discrete industries, for instance, with leading automobile manufacturers and their suppliers." According to information from IBS, the company´s sales totaled EUR 19.7 million in fiscal 2006 and EUR 17.7 million in fiscal 2005. Headquartered in Hoehr-Grenzhausen, near Koblenz, Germany, IBS has 170 employees. The Siemens offer corresponds to a price of about EUR 35 million for the complete share capital of IBS. The offer will be contingent on the fulfillment of a number of customary terms and conditions. For example, it must be ensured that a minimum of 75 percent of the capital stock of IBS AG is assumed and that the approval of the German anti-trust authorities is obtained. Details of the terms will be announced in the bid, which is expected to be made public by the end of April.