EANS-News: S&T AG to focus smart energy operations on Central and Eastern Europe
markets
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Mergers - Acquisitions - Takeovers
Linz, 1.12.2015. S&T AG and the high-tech group that it heads plan to focus
their smart grid operations on their main and longstanding home markets in
Central and Eastern Europe. To that end, S&T plans to acquire 100% of the equity
in the Europe-based Networked Energy Services GmbH ("NES"), which is a
subsidiary of Networked Energy Services Corp. ("NES Corp."). In a reciprocal
development, S&T's 56% stake in the California-based NES Corp. would be
transferred. Negotiations have been already started.
NES Corp. and the S&T Group would set forth their close working relationships in
the areas of technology development and distribution. Whilst doing this, the S&T
Group will concentrate on serving its core markets of Eastern Europe and the
German-speaking region (Germany, Austria and Switzerland).
"We intend a clearly-formulated focus and a transparent structure for getting
advantages in our operative business and our relations with investors," reports
Hannes Niederhauser, S&T's CEO, the planned changes. "S&T AG would enhance its
status of being a full-selection provider of smart energy technologies to the
Central and Eastern European markets. This product selection includes both,
smart metering products and dedicated software designed to meet the needs of
these regions."
On S&T AG:
S&T AG (www.snt.at, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is a high-tech
corporation. It employs some 2,300 employees, and maintains subsidiaries and
offices in 19 countries. S&T AG provides IT systems. It is listed on the
Frankfurt Stock Exchange's Prime Standard segment. These systems are comprised
in the company's comprehensive portfolio of IT solutions and services. These
make S&T one of the leading suppliers in Central and Eastern Europe. S&T is a
renowned manufacturer of products featuring proprietary technologies. Its wide-
ranging portfolio includes innovations in such areas as appliances, cloud
security and smart energy.
Further inquiry note:
ir@snt.at; +431801911125;
end of announcement euro adhoc
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company: S&T AG
Industriezeile 35
A-4021 Linz
phone: +43 664 6119214
FAX: +43 1 80191 1290
mail: ir@snt.at
WWW: www.snt.at
sector: Computing & Information Technology
ISIN: AT0000A0E9W5, DE000A1HJLL6
indexes:
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English