HMS Networks acquires PEAK-System Technik and strengthens its position within Industrial Information and Communication Technology (ICT) 01 Oct 2024 at 14:35
Regulatory press release
HMS Networks AB (publ) ( HMS ), a global provider of industrial information and communication technology, has today entered into a binding agreement with DOGAWIST-Investment GmbH to acquire 100% of the shares in PEAK-System Technik GmbH ( PEAK-System ), a well-established German provider of industrial communication solutions.
At the PEAK-System office in Darmstadt after signing. From left: Alexander Gach, Managing Director PEAK-System Technik, Ines Dohmann, Managing Director PEAK Group, Staffan Dahlstr m, CEO of HMS Networks and Uwe Wilhelm, Managing Director PEAK Group and PEAK-System Technik.
Summary of the acquisition
HMS has entered into a binding agreement to acquire PEAK-System for a cash consideration of EUR 69 million (approximately SEK 780 million)1, on a cash and debt free basis (Enterprise Value).
PEAK-System is a well-established, German-based provider of industrial communication solutions with an innovative product portfolio supporting primarily automotive communication standards.
The acquisition is expected to be accretive to HMS earnings per share from completion of the acquisition (excluding any non-cash amortization impacts from the transaction).
The acquisition is expected to close on November 1, 2024, subject to closing conditions.
The acquisition is financed through a combination of existing and new credit facilities.
PEAK-System at a glance
PEAK-System is a well-established German industrial communication company offering both hardware and software for industrial and automotive communication. Through the development and manufacturing of innovative and scalable products with emphasis on network technologies used in the automotive industry, the company has been serving customers all over the world since the start in 1999.
PEAK-System's headquarters, with product manufacturing and development, is located in Darmstadt, Germany. There is also a French subsidiary with an office in Max ville, close to Nancy, France. PEAK-System employs in total about 50 people.
The sales are well distributed over the key industrial communication markets with approximately 50% of sales in Europe, 25% in Asia, and 25% in the US.
Strategic rationale
The acquisition will strengthen HMS' position within communication solutions for advanced engineering tools, testing and control within automotive, medical and transportation. HMS sees several synergies between HMS' Business Unit Ixxat and PEAK-System, both when it comes to product development and cross-selling, utilizing the sales channels of both companies. The acquisition will strengthen HMS' global presence within automotive communication, especially in the important German market.
PEAK-System's extensive product portfolio and expertise expand our existing product offering in communication solutions for advanced engineering tools, testing and control in applications within automotive, medical and transportation. We also see excellent cross-selling opportunities, both geographically and technically. Our Ixxat brand and PEAK-System already offer unique sets of software and hardware tools and together, they will provide our customers with more options to solve their communications challenges. This is an exciting step for HMS and our Ixxat brand and the entire HMS team are happy to welcome our new colleagues at PEAK-System to HMS, says Staffan Dahlstr m, CEO of HMS Networks.
Financial implications and financing
In the twelve-month period ending on September 30, 2024, PEAK-System reported sales of about EUR 25 million and an adjusted EBITDA-margin of about 30%2. Transaction- and integration costs are expected to be around SEK 10 million, with impact on 2024 and 2025.
The acquisition will be financed through a combination of existing financing arrangements and a new term loan of EUR 30 million provided by Skandinaviska Enskilda Banken AB (Publ) and the Swedish Export Credit Corporation (Sw. AB Svensk Exportkredit).
The transaction is expected to close on November 1st and is expected to be accretive to HMS earnings per share from completion of the acquisition (excluding any non-cash amortization impacts from the transaction).
For more information, please contact:
Staffan Dahlstr m, CEO HMS, +46 (0)35 17 29 01
Joakim Nideborn, CFO HMS, +46 (0)35 710 69 83
This information is such that HMS Networks AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 14:35 CEST on October 1, 2024.
HMS Networks AB (publ) is a market-leading provider of solutions in Industrial Information and Communication Technology (Industrial ICT) and employs over 1 200 people. Local sales and support are handled through over 20 sales offices all over the world, as well as through a wide network of distributors and partners. HMS reported sales of SEK 3,025 million in 2023 and is listed on the NASDAQ OMX in Stockholm in the Large Cap segment and Telecommunications sector.
1 To be determined in SEK upon closing
2 The EBITDA numbers have been adjusted to reflect how the PEAK-System business would, on a preliminary and indicative basis, be reported in the HMS group. The financial information presented herein refers to unaudited figures. The adjusted EBITDA excludes any potential synergies, transaction costs and integration costs from the acquisition.
Attachment
PR - HMS Networks acquires PEAK-System
All news
Europe Stories
09/12/2024
Dalet, a leading technology and service provider for media-rich organizations, today announced that it has been named an IDC Innovator in the IDC Innovators: ...
09/11/2024
Dalet, a leading technology and service provider for media-rich organizations, today announced three new members of its executive team. Tara Bryant joins as Chi...
04/10/2024
With Audiobooks, Spotify is committed to delivering immersive listening experien...
04/10/2024
The nominees for the new Excellence in Production Technology are Christmas at Graceland, The Coronation of H.M. King Charles III and The Santa Clauses
By Jenny...
04/10/2024
Connell Pavey, co-programme leader for the University of Salford's new course in motion capture technology tells TVBEurope how his passion for creativity le...
04/10/2024
TikTok announces TikTok Awards in UK & Ireland with presenting partner SkyFriday 4 October 2024
Every day, millions of people come to TikTok to share their cre...
03/10/2024
Have you ever hopped on a plane only to realize you forgot to download your favorite playlist? Are you looking for ways to save data with your data plan while s...
03/10/2024
Its feature set is closer to what a vision mixer provides than to what operators traditionally expect from a downstream keying function, said the company
By Ma...
03/10/2024
AMP8 award follows successful large-scale rollout to date
03 October, 2024 - Winchester, UK - A month after we announced that our smart water meter networks ac...
03/10/2024
Here, we introduce the clients who have embraced independent audits, implemented rigorous standards, and demonstrated a genuine dedication to improving the digi...
03/10/2024
On RT Prime Time tonight, Aoife Johnston's mother and father, Carol and Jam...
03/10/2024
Daniel O'Donnell | Sandy Kelly| Garron Noone| Lisa McHugh| Derek Ryan
Janet Devlin | Michael English | Margo | Mike Denver
Jimmy Buckley| Cliona Hagan | P...
02/10/2024
The Littlewoods Building transformation will include two film studios as well as office and workshop spaces
By Jenny Priestley
Published: October 2, 2024 U...
02/10/2024
The acquisition will deliver strategic benefits, such as expanded product and solution offerings, an increase in EVS R&D centres, and broader support services
...
02/10/2024
Releasing the data, the Film and TV Charity also announced plans to develop pan-industry mental health standards ahead of a revamp of its Whole Picture Toolkit
...
02/10/2024
Invitation to HMS Networks' third quarter conference call 2024 02 Oct 2024 at 16:17
Regulatory press release
HMS Networks AB (publ) will release its th...
02/10/2024
02 Oct 2024
VEON's Mobilink Bank and Banglalink Take Home Digital Nations ...
02/10/2024
September marked the start of an exhilarating new season, and here at Technicolor Group we kicked things off with a bang! MPC saw two projects enter the Interna...
02/10/2024
Wuppertal October 2, 2024
Prestonwood Baptist Church Enhances Communications a...
02/10/2024
Facebook
Twitter
LinkedIn
For the third year in a row, Thales, worldwide l...
02/10/2024
RT lyric fm today announced a new addition to the schedule with one of Ireland&...
01/10/2024
This year's IBC 2024 was an incredible opportunity to connect with industry ...
01/10/2024
As Deadpool & Wolverine debuts on digital streaming, TVBEurope revisits our conversation with the film's editor Shane Reid, to hear how he combined the film...
01/10/2024
The plugin enables editors to quickly access, discover, and clip the best moments identified by AI in their recent or archived footage
By Jenny Priestley
Pub...
01/10/2024
HMS Networks acquires PEAK-System Technik and strengthens its position within In...
01/10/2024
HMS Networks AB (publ) divests MB Connect Line 01 Oct 2024 at 15:00
Regulatory press release
HMS Industrial Networks GmbH, a wholly owned subsidiary of the...
01/10/2024
Curated annually by Flanders' biggest commercial radio station Qmusic (part of DPG Media), Q-Beach House has been a staple in Ostend during the summer month...
01/10/2024
Sky Broadband launches full fibre 24/7 switching support serviceExperience the UK's most reliable broadband technology for less with Sky Broadband Full Fibr...
01/10/2024
Sky and NOW release official trailer for comedy series The FranchiseTuesday 1 October 2024
To view this content, please enable our use of cookies. To do so, cl...
01/10/2024
Rohde & Schwarz showcases its cutting-edge test solutions for consumer electroni...
01/10/2024
CUPERTINO, CALIFORNIA In celebration of World Teachers' Day, Apple today launched all-new free classroom resources to help educators and students embrace cr...
30/09/2024
Qu'il s'agisse de musique, de podcasts ou de livres audio, les auditeurs de Spotify se tournent vers les contenus en fran ais. En effet, plus de 100 mil...
30/09/2024
Across music, podcasts, and audiobooks, Spotify listeners are turning toward French-language content. In fact, more than 100 million users worldwide listened to...
30/09/2024
Tales From the Loop, a new eight-episode series now streaming on Amazon Prime Video, explores the goings-on in a small Ohio town situated atop a mysterious mach...
30/09/2024
Anne Lellinger, senior manager of space operations training at SES, tells TVBEurope how shes spent 20 years delivering TV content to homes across Europe
By Con...
30/09/2024
All entrants - whether they are selected as a winner or not - will receive a nominee badge to promote their entry and will be included in a nominee feature arti...
30/09/2024
Transformative Air Conditioning Control Project Wins Smart Project of the Year a...
30/09/2024
30 Sep 2024
VEON Strengthens Group Leadership Team Adding Two Senior Executives...
30/09/2024
30 Sep 2024
VEON Completes the Sale of Its Stake in TNS in Line with Asset-Light Strategy Amsterdam, 30 September 2024: VEON Ltd. (Nasdaq: VEON, Euronext Amst...
30/09/2024
-Exclusive interview with sister of Nicole Morey, who was tragically killed in a dog attack
-Audience discussion and debate ahead of Budget 2025
Tonight on U...
30/09/2024
RT is Supporting 31 Arts and Cultural Events all over Ireland this October
Watch our promo: RT Supporting the Arts | What's on YouTube
This October, R...
27/09/2024
Since landing on Spotify in 2019, German-language podcast Gemischtes Hack has gr...
27/09/2024
When it comes to music discovery on Spotify, we know how important new releases ...
27/09/2024
The facility will include four sound stages, workshops, production offices, make-up and dressing rooms, and support services
By Matthew Corrigan
Published: S...
27/09/2024
Aiming to be a catalyst for change, the event features a diverse line-up of industry voices
By Matthew Corrigan
Published: September 27, 2024 Updated: Sept...
27/09/2024
27 Sep 2024
VEON Bonds to Re-Enter CEMBI and JACI Indices Amsterdam, 27 September 2024 - VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital o...
27/09/2024
It's time to return to the pitch in EA Sports FC25. Since 2008, Technicolor Games has been actively involved in the best-selling sports franchise, playing a...
27/09/2024
Mediagenix and Spideo Unite to Enhance Content Discovery, Recommendation, and Pe...
27/09/2024
RT will provide extensive coverage of Budget 2025 across digital, radio and tel...
HMS Networks acquires PEAK-System Technik and strengthens its position within Industrial Information and Communication Technology (ICT) 01 Oct 2024 at 14:35 
