SinnerSchrader AG

ots Ad hoc-Service: SinnerSchrader AG Akquisition

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    Hamburg (ots Ad hoc-Service) -  SinnerSchrader acquires e-commerce specialists

    SinnerSchrader AG, based in Hamburg, is acquiring one hundred percent of Netmatic Internet/Intranet Solutions GmbH based in Hamburg and Denver, USA.

    Netmatic, which was founded in 1996 and is located in Hamburg and the USA is one of the most profitable and quickly growing e-commerce software specialists in Germany, with a staff of fifty three and an expected turnover of DM 10 million for the fiscal year 2000. As an Apple Project Partner, Netmatic is one of Europe's leading companies in the field of WebObjects programming.

    The takeover of Netmatic provides SinnerSchrader with an excellent opportunity to implement its strategy of expanding its portfolio through the acquisition of innovative and focused technological competence. As a result of this transaction, the company's resources in the field of software engineering will be doubled. In addition, through Netmatic's American operations, SinnerSchrader will gain direct access to the technological developments in the world's largest e-commerce market which will also have a positive influence on the expansion of SinnerSchrader's business in Europe.

    Netmatic - is synonymous with WebObjects, object oriented technologies and excellent know-how in the Java environment, as well as with profound experience in all web relevant technologies gained from numerous successful projects. Netmatic has achieved a competitive edge in development quality and speed by developing its own framework libraries. The IT specialist serves blue-chip clients such as T-Mobil and TUI, and has acted as the implementation partner in projects such as and

    Through this acquisition, SinnerSchrader strengthens its position as Germany's leading e-commerce enabler and broadens scope and capacity of its implementation capability for cutting-edge eCommerce systems. With its e-business solutions, SinnerSchrader aims to integrate components such as logistics, accountancy, warehousing, CRM systems as well as statistic and profiling systems into a backend platform, with the use of an advanced multi-tier architecture and industry standards such as Java, EJB, CORBA/RMI and XML. SinnerSchrader enables business processes of large companies from the old and new economy to be oriented towards the demands of networked e-commerce processes.

    The purchase agreement, which was signed yesterday, still requires approval of SinnerSchrader's shareholders at the AGM, which will take place at the beginning of December in Hamburg. For the most part, the transaction has been structured as a share deal. A first tranche of DM 30 million will be paid after the shareholders approval. A second tranche will be calculated in the first six months of 2001, based on the actual Netmatic performance in fiscal 2000. A part of the total purchase price will be passed on to the current employees of Netmatic. SinnerSchrader Aktiengesellschaft

    SinnerSchrader is the leading consultant and service provider of e-commerce applications in Germany. The company's focus is the conception and development of transaction oriented internet applications and the establishment thereof on the relevant markets. SinnerSchrader's clients include Deutsche Bank 24, Europcar, Tchibo, Otto Versand, and Expected turnover for the current fiscal year 1999/2000 (1.9.1999 - 31.8.2000) is in the region of DM 28 million. SinnerSchrader was successfully quoted on Germany's Neuen Markt (new market) on November 2, 1999. (WKN 514190)

    More informations:

    SinnerSchrader Aktiengesellschaft Investor Relations Julia Kretschmann Planckstrasse 13 22765 Hamburg Tel.: 040-39 88 55-89 Fax.: 040-39 88 55-55

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