EANS-News: S&T AG finalizes to focus its smart energy activities on Eastern- and
Central Europe
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Mergers - Acquisitions - Takeovers
Linz, February 4, 2016. As announced in December, S&T will focus its smart grid
activities on serving its main markets Central- and Eastern Europe. To that end,
S&T has acquired Networked Energy Services Corporation's (NES) shares of the
Europe-based Networked Energy Services GmbH (formerly Ubitronix GmbH), which had
been operating as a local European branch for NES. Also, as part of its strategy
to focus on its core markets, S&T AG has sold it's 56% stake in the Silicon
Valley based NES Corporation to Cedrus Enterprises Holding, an existing
shareholder of the company. Collectively, these transactions will yield S&T AG a
positive increase in cash flow.
NES Corporation and the S&T Group will continue to work as partners to deliver
end to end Smart Energy solutions to S&T's core markets, where NES and S&T have
already had customer wins in Poland, Austria, Slovakia, and Romania. While doing
so, the S&T Group will concentrate on expanding its Software Smart Energy
solution portfolio to include additional software and system integration
services to compliment the NES industry leading solution portfolio. S&T is also
expediting its development activities in this segment and plans to introduce
"microGrid" management solutions later this year. These smart grids solutions
are designed for use in small cities and energy service providers. S&T is
planning on introducing their first solution in February 2016.
"S&T will increase their investments in smart grid technologies and continue its
effort to establish this segment as an area of leadership and growth for the
company. S&T is developing innovative software solutions which will offer a
broad value proposition to its customers and will compliment the NES industry
leading product portfolio," explains Hannes Niederhauser, S&T's CEO, referring
to the results expected from the newly optimized structure. "While doing so, S&T
AG will maintain its status of being a provider of a comprehensive portfolio
provider of solutions for the smart energy sector in Central and Eastern
Europe."
Smart grid is a high-growth technology market. Once the alterations planned have
been completed, S&T plans on realizing a 30% rise in sales from its Smart Energy
segment in financial year 2016. In total, these sales will result to EUR 70
million. The restructuring of costs is expected to enhance the profitability of
the smart energy segment in 2016, in which the segment is set to earn an EBIT of
nearly EUR 2 million.
About 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.
About Cedrus:
Cedrus Enterprises Holding (www.cedrus.net) is a privately held holding company
with a highly diversified portfolio. The primary strategic focus is largely
centered on energy-related industry, technology and business & technical
consulting services. Cedrus Enterprises Holding has adopted a well-defined and
dynamic business model that defines its investment approach and investment
selection process. The cornerstone of this approach lies in investing in key
international strategic acquisitions and in entering into alliances and/or
partnership arrangements with internationally recognized technology vendors and
utilities. The company's long-term investment strategy includes greater focus
on areas related to smart metering and smart grid solutions but remains
thoroughly anchored on risk diversification. The portfolio of companies
currently held are engaged in a wide range of international projects and
assignments that include alternative energy; contracting and engineering
services (infrastructure, commercial & residential); the design, development and
implementation of IT & software solutions; the provision of electromechanical
products and solutions; facility maintenance services; advanced defence &
security systems implementation (infrastructure protection and highly
specialized products/solutions); transportation (airport ground-handling and
management); hospitality and food & beverage (hotels, restaurants, food
processing, franchising and catering).
About Networked Energy Services Corporation:
Networked Energy Services Corporation (www.networkedenergy.com) is a global
smart energy leader in the worldwide transformation of the electricity grid into
an energy control network, enabling utilities to connect to their customers,
offer new services and help them compete more effectively, through solutions
which can help reduce operating costs, provide expanded services and help energy
end users to become active participants in energy conservation. The company was
formed as a result of the spinoff of Echelon Corporation's Grid Modernization
Division in October 2014. NES has its headquarters in the US, with design and
R&D Centers located in Silicon Valley/California, Fargo/North Dakota, Gdansk
Poland, and sales offices throughout the world. Networked Energy Services'
solution, based on Open Smart Grid Protocol (OSGP), is used in more than 36
million smart end points by utilities around the world. You can find out more
information about NES and its products, including smart meters, data
concentrator nodes, and head-end software, at http://www.networkedenergy.com.
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