Tecan to expand its Partnering Business with acquisition of Sias
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Tecan Group AG /
Tecan to expand its Partnering Business with acquisition of Sias
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* Sias, a leading OEM supplier of laboratory automation solutions, adding new
platforms, capabilities and corporate clients to Tecan's broad portfolio
* Sias to become part of Tecan's Partnering Business, leveraging Tecan's
global sales infrastructure and after-sales support capabilities
* Valuation representing a multiple of approximately one times expected fiscal
year 2015 sales of Sias
* Close proximity of Swiss facilities enables synergies and joint development
of efficiencies
* Transaction anticipated to be accretive to earnings per share before
transaction-related amortization in 2017
Männedorf, Switzerland, October 28, 2015 - The Tecan Group (SIX Swiss Exchange:
TECN) announced today that it has reached agreement with the majority
shareholders of Sias to acquire Sias AG, a leading OEM supplier of a wide range
of modular and complete laboratory automation solutions. Sias will become a part
of Tecan's Partnering Business, leveraging Tecan's global sales infrastructure
and after-sales support capabilities. The acquisition adds further scale to
Tecan's leading OEM business, brings new corporate customers in the in-vitro
diagnostics segment and a healthy funnel of new development projects. Sias'
modular platforms and robotic components are ideally suited for low- to medium-
throughput applications and thus expand the range of Tecan's existing automation
solutions and components offering.
The transaction is valued at approximately one times expected fiscal year 2015
sales of Sias of around CHF 25 million. The purchase consideration will be fully
paid in cash. The transaction is expected to be accretive to earnings per share
(EPS) before transaction-related amortization in 2017. Closing of the
transaction is subject to certain conditions, including the timely transfer of
sufficient shares.
Tecan CEO Dr. David Martyr commented: "We are pleased to have reached this
agreement and look forward to welcoming the Sias team into Tecan. Sias will add
further scale to our leading Partnering Business and provides access to
complementary automation platforms which are particularly well suited as the
basis for small to mid-size OEM systems for diagnostic as well as research
applications."
Dr. Achim von Leoprechting, Head of Tecan's Partnering Business added: "Sias'
core expertise in automating immunoassays and molecular diagnostics workflows as
well as their strong client base in China perfectly match with our corporate
strategy. In addition, the close proximity of the two Swiss facilities allows
synergies to be implemented."
Andre Guenter, CEO of Sias, said: "We have reached a mutually beneficial
agreement. We bring a dedicated, highly trained team, innovative technologies
and leading products, a strong pipeline of new development projects and
dedicated business partners all over the world. Tecan's global presence will
allow us to grow even faster than our current rate by leveraging local sales and
service organizations. We will greatly benefit from the combined capabilities of
the larger development organization. It is a good opportunity for the
shareholders of Sias AG to realize their loyal investment."
A leading OEM supplier of specialized automation solutions
Sias AG is a leading OEM supplier of a wide range of modular and all-inclusive
laboratory automation solutions. The company is one of the world's leading
manufacturers in the liquid handling segment. Sias was founded in Hombrechtikon,
Zurich, in the year 2000. Since 2011, Sias further strengthened its position as
an innovative OEM supplier, including through the acquisition of Xiril AG in
2012. The company has around 80 employees and supplies customers in Europe, the
USA and China. Sias' customers are primarily in the diagnostics and research
sectors.
Additional information can be found on the Sias webpage:
www.sias.biz
About Tecan
Tecan (www.tecan.com) is a leading global provider of laboratory instruments and
solutions in biopharmaceuticals, forensics and clinical diagnostics. The company
specializes in the development, production and distribution of automated
workflow solutions for laboratories in the life sciences sector. Its clients
include pharmaceutical and biotechnology companies, university research
departments, forensic and diagnostic laboratories. As an original equipment
manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM
instruments and components that are then distributed by partner companies.
Founded in Switzerland in 1980, the company has manufacturing, research and
development sites in both Europe and North America and maintains a sales and
service network in 52 countries. In 2014, Tecan generated sales of
CHF 400 million (USD 437 million; EUR 331 million). Registered shares of Tecan
Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191).
For further information:
Tecan Group
Martin Brändle
Vice President, Communications & Investor Relations
Tel. +41 (0) 44 922 84 30
Fax +41 (0) 44 922 88 89
investor(at)tecan.com
www.tecan.com
Press Release:
http://hugin.info/100384/R/1961905/715460.pdf
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Source: Tecan Group AG via GlobeNewswire
[HUG#1961905]
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 429909
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contact information:
Town:
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