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

01.08.2018 | Austria

Augsburg, August 1, 2018 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.

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