01.08.2019 | Austria

S&T AG: Subsidiary Kontron Canada acquires software company Inocybe

S&T AG (www.snt.at) announced today the acquisition of the Canada-based Inocybe Technologies, a software company, by Kontron Canada Inc., 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 realization 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 ideally 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 cutting-edge 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. This increase will stem from the synergies and market accesses ensuing from the move, and from the expansion of software development capabilities possessed by S&T's businesses in North America.

About S&T AG
S&T AG (www.snt.at) heads a technology group that employs some 4,000 persons and that operates in more than 25 countries around the world. S&T AG is listed on the Frankfurt Stock Exchange (ISIN AT0000A0E9W5, WKN A0X9EJ, SANT). S&T forms part of the Exchange's TecDAX index of high techs. S&T is a leading supplier in Central and Eastern Europe of IT systems and of the services and solutions comprised in them. S&T's taking in 2016 of a stake in Kontron AG – one of the leaders on the world's market for embedded computers – has enhanced its portfolio of proprietary technologies used in the fields of appliances, cloud security, software and smart energy. This move has made S&T one of the leading suppliers on the international markets for Industry 4.0 and IoT (Internet of Things) technologies.