SMT, PCB Electronics Industry News

Micronic Laser Systems AB intends to acquire MYDATA automation AB

Apr 23, 2009

Micronic Laser Systems and Skanditek Industrif�rvaltning have signed a letter of intent whereby Micronic intends to acquire MYDATA automation. The transaction is structured so that Micronic Laser Systems acquires MYDATA automation from Skanditek Industrif�rvaltning and the minority shareholders against payment in the form of newly issued shares in Micronic. Following the transaction, Skanditek Industrif�rvaltning will be the largest shareholder in Micronic, owning close to 38 per cent of the capital and vote.

The combined company will have a revenue of approximately SEK 1.2 billion annually, employ 640

people and have a market presence in more than 40 countries. MYDATA will become a part of a listed company, where Skanditek will continue to be the major shareholder. The key rationale is to combine the strengths of two leading companies developing capital equipment for the imaging and electronics industries. The combined company will operate from a stronger financial position and have increased possibilities for future growth.

The foundation for merging Micronic and MYDATA lies upon the core values and competencies that both companies share today. Both companies are committed to a high degree of innovation and to developing leading products in their respective fields. The merged company will be able to exploit operational synergies over time, such as product development and production by combining competences and know-how.

�Today the two companies address different market segments in the electronics industry. There is a strong trend, driven by the development in the consumer electronic segment, of closing the gap between the traditional semiconductor and SMT-industries. We see an interesting and real opportunity to combine technologies from both companies to exploit the possibilities in this new segment� says MYDATA CEO Bengt Broman.

The combined company will continue to operate the existing businesses separated. For the SMTsegment the combined company will stay on the same strategic direction as before and will remain committed to continue the business, without disruption, as the leader of solutions for flexible electronics production.

�Our customers will be positively affected by this transaction. From a stronger platform we remain committed to serve our customers as we have done for more than 20 years. We will continue to use the same sales and support structure. Further, there is no change to our commitment to continue to develop our product and services portfolio� continues Bengt Broman.

For more data about Micronic see http://www.micronic.se.

MYDATA automation designs, manufactures and markets SMT process equipment for the electronics industry. Its mission is to be always innovating � in order to satisfy the electronic industry's need for surface mount technology and services that meet the highest demands in terms of productivity and quality.

Based on a modular hardware and software design, MYDATA equipment has been developed for flexibility and high-yield production over time. By focusing on faster changeovers and set-ups, and on achieving the lowest possible cost per mounted component, MYDATA has built a strong customer base and long-term relationships with customers in countries throughout the world.

Sweden-based MYDATA has a worldwide sales and customer support network with subsidiaries in the Netherlands, the United Kingdom, France, Germany, the United States, Japan, China and Singapore.

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