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ots Ad hoc-Service: Softmatic AG
SOFTMATIC AG ACQUIRES SYSTEC AG AND DEVELOPS NEW MARKET SEGMENT
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Norderstedt (ots Ad hoc-Service) - Softmatic AG, a leading supplier of standard software for the process industry and quoted on the Neuer Markt since June 1999, has acquired a 100% stake in Systec AG retrospective to October 1, 1999. Founded in 1983, Systec AG is one of the largest reseller and system integrator of Fujitsu Siemens Computers. With its 250 customers, the company is one of the most important support centres for the widely used standard software Comet. In the past fiscal year, Systec has realised sales of some DM 30 million with 100 employees. With this acquisition, Softmatic catapults itself into the top five suppliers of ERP software in the German market. The price paid for Systec amounts to DM 16.72 million and will be financed in full through the issue of Softmatic stock from capital already authorised. Because of the acquisition, the group increases its sales forecast for fiscal 2000 from DM 90 million to DM 120 million. With this step, Softmatic AG extends its strategy beyond its traditional business with specialised software for the process industry to the lucrative market of packaged software for small and medium enterprises.
For the past year, Softmatic, Semmerling & Armbrecht and Systec have jointly conducted the development of a successor product for Comet. It is planned, to bring an internet-enabled Diamant@ which also supports ASP concepts to market as early as the fourth quarter of fiscal 2000. In doing so, Softmatic opens a long-term perspective for the approximately 6.000 active Comet sites to migrate their software and closes the gap which has been left by the foreseeable closure of Q.4 IBS, the developer of Comet. The company plans to expand the sales and marketing channel by gaining competent Comet partners in Germany and abroad. Internationally, the existing Softmatic offices will be used as service centres. Over the past 12 months, Softmatic has successfully migrated 50 Comet sites to Diamant software for financial accounting and, thus, does already have extensive migration know how.
FIRST QUARTER WITH RECORD SALES In the first three months of the current fiscal year, Softmatic achieved the highest consolidated quarterly sales level in its history. Quarterly sales increased by 131% to DM 13,62 million compared to the same period in fiscal 1999, and exceeded the plans for the first quarter of 2000 by DM 0.2 million. Compared to the entire 1999 fiscal year, the gross margin rose significantly, from 8.7% to 23.6%. We expect this positive development to continue even further as sales increases in the further course of fiscal 2000. The loss before taxes (EBT) according to U.S. GAAP amounted to DM 8.84 million, reflecting the high investments particularly in business expansion and in the area of research and development. The consolidated net loss of DM 5.49 million is in accordance with our plans for the first quarter of fiscal 2000. Due to the acquisition of Systec AG, the group now expects sales for fiscal 2000 to increase by 190% to more than DM 120 million. The results of Systec AG have not been included in the financial statements for the first quarter of fiscal 2000. The earning forecast remains unchanged and Softmatic expects to reach the break-even this year. The complete quarterly report is published on www.softmatic.com. Furtherinformation:
Kay Bommer, phone; +49 / 40 / 528 44 212, e-mail: email@example.com
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