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Zetes, a leading pan-European supplier of solutions and services for the automatic identification of goods and people, has announced the acquisition of Interscan.
The acquisition fits in Zetes European growth strategy and gives Zetes a stronger foothold in France. The company Interscan has built a strong reputation in auto ID system integration on the French market. It serves a lot of customers, from the local food and beverage companies to large multinationals whove all shown good loyalty to the company. 2006 revenue was 14 million , about two times the Zetes 06 turnover in France. The acquisition is worth 4.1 million . On top of an initial payment for 100% of the shares, an earn-out based on the performance will be paid in 2008 and 2009.
Interscan has built a strong track record in Auto ID solutions on the French market for over 20 years. Zetes and Interscan are highly complementary, not only from a solutions offering, but also from a geographical point of view. Where Zetes was primarily servicing international French companies out of its Paris headquarters, Interscan offers close proximity to large and medium-sized local French companies through its regional offices in Strasbourg, Lens, Nantes and Lyon. Immediately, an integration-team will be put in place and as of January 1st, 2008, Interscan and Zetes will act as one, creating the context to pull the profitability level of Interscan to the Zetes standards on 2 years time. The future organisation will employ over 80 experienced specialists in sales, professional services, customer support and maintenance.
Alain Macaigne, founder and former Managing Director of Interscan, says: When I decided to retire from the industry it was important that the employees and customers of Interscan were offered a promising future. I am therefore very happy that in Zetes we have found an international market leader with innovative solutions for our customers whilst valuing the local contribution of our employees.
Our existing French operation is showing good organic growth and this required us to reinforce the organisation. The acquisition of Interscan, which has an excellent reputation in France, offered an excellent opportunity to address that need offering close proximity to our growing customer base and at the same time position us as one of the leading players in what is a key European market for Retail, Manufacturing and Transport & Logistics, says Alain Wirtz, CEO of Zetes Industries.
ZETES INDUSTRIES (Euronext Brussels: ZTS) is a leading pan-European company in the value-added solutions and services industry for Automatic Identification of Goods and People (Goods ID and People ID). Zetes uses both emerging and mature technologies (barcode, voice recognition, RFID, smartcards, biometrics), and develops Solution Architecture Frameworks to optimize the business performance of many customers in many market segments: manufacturing, transportation, logistics, retail, healthcare, finance, telecommunication, government and public services. The Zetes group has its headquarters in Brussels, with subsidiaries in Belgium, Denmark, Germany, France, Ireland, Israel, Italy, the Netherlands, Portugal, Spain, Switzerland and the UK. Zetes currently employs more than 600 employees (in FTEs) and generated consolidated revenues of 137.5 million in 2006.