Product category:
Coding and Marking Systems
News Release from: Domino Printing Sciences plc
Edited by the Printingtalk Editorial
Team on 31 October 2007
Domino Acquires Production Software
Company
At a cost of EUR4 million Domino Printing Sciences will acquire Control Information Technology of Germany, which develops and sells production line control software.
Control Information Technology of Koblenz, produces software for the pharmaceutical and other industries that provides manufacturers with the ability to manage and monitor production line performance and product traceability The company's Ralf-Gunter Wein and Harald Herres will remain as employees in the business, along with all other staff whilst the company will become part of Domino's Integrated Solutions Group
Net tangible assets in the deal are approximately EUR50,000.
The initial consideration of EUR4 million is in cash.
An additional consideration will be payable based on the results of the combined Integrated Solutions business over a five-year period.
Domino said that the group expects a neutral effect, as a result of the deal, on earnings in the first year.
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