STOCKHOLM, SWEDEN: HMS Industrial Networks AB, a wholly owned subsidiary of HMS Networks AB (publ), has acquired the remaining 30% of the shares in Procentec B.V. based on pre-determined option conditions.
HMS acquired 70% of Procentec on October 1st 2020, and following today’s transaction Procentec will be a wholly owned subsidiary.
The Procentec providing focuses on diagnostics and monitoring of factory networks. Acquiring the remaining shares in Procentec is a pure step for HMS which opens for a nearer integration of Procentec to realize synergies each in gross sales and marketing in addition to product development.
“We are very happy with the event of Procentec and the nice work done by the administration team and the Procentec employees since becoming a member of HMS. I am very happy with this transaction and enthusiastic about our continued journey forward throughout which we can discover extra synergies between the companies” says Staffan Dahlström, CEO of HMS Networks.
“We are dedicated to proceed to drive and develop Procentec further, and look forward to benefitting from even deeper collaboration with HMS” says Pieter Barendrecht, CEO of Procentec B.V.
Procentec is already consolidated to 100%, therefore there’ll be no impact on HMS’ Earnings Per Share from the transaction.
HMS Networks AB (publ) is a market-leading supplier of options in industrial information and communication technology (Industrial ICT). HMS is listed on the NASDAQ OMX in Stockholm, class Large Cap, Information Technology.
www.hms-networks.com