Kontron's Canadian subsidiary acquires software company
S&T AG announces the acquisition of the Canada-based Inocybe Technologies, a software company, by Kontron Canada, an S&T subsidiary that was Inocybe's partner.
The takeover has the form of an asset deal. It causes Inocybe to be immediately integrated into Kontron Canada. The price agreed upon for the assumption of the assets came to USD 3.3 million. This takeover furthers S&T AG's realisation of its strategic objective of integrating software companies from North America into its operations, and, by doing such, achieving an acceleration of the development of its Internet of Things business. Inocybe's software complements Kontron Canada's hardware. This teaming-up will facilitate the boosting of the gross margin as a whole. Inocybe has 25 staff members. The company has expertise in the provision of open-source technologies to corporate- and service provider-customers that plan to develop automatically and intelligently operating networks. Inocybe's sales in 2018 will amount to some USD 1.5 million. This acquisition will greatly increase the value of the S&T Group's entire portfolio of IT Services, IoT Solutions and Embedded Systems.