Micronic Laser Systems Announces its Intention to Acquire MYDATA Automation

Micronic Laser Systems and Skanditek Industriförvaltning have signed a letter of intent whereby Micronic intends to acquire MYDATA automation. The transaction is structured so that Micronic Laser Systems acquires MYDATA automation from Skanditek Industriförvaltning and the minority shareholders against payment in the form of newly issued shares in Micronic. Following the transaction, Skanditek Industriförvaltning will be the largest shareholder in Micronic, owning approximately 38 per cent of the capital and votes.

According to the companies, combining Micronic and MYDATA will create large potential within the market for electronic packaging using Micronic’s and MYDATA’s complementary knowledge and experience in the area. The transaction is expected to result in operational synergies as well as reduced financial volatility for the combined company. The combined company will have annual sales of SEK 1.2 billion (based on 2008 performance), approximately 640 employees and operations in 11 countries around the world.

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