IBS acquires Australian software developer TMS

IBS, International Business Systems (XSSE IBS B), has acquired all shares of Australian software developer TMS as of 1 March, 2005. TMS provides a niche supply chain solution for the publishing and consumer electronics industries. The company has 60 employees in Sydney, Singapore and the UK and a network of business partners in the US, Netherlands and South Africa. During 2003/2004, TMS reported full year revenue of EUR 6.9m. (AUD 11.5m.) and pre tax profits of EUR 0.9m. (AUD 1.5m.). IBS will pay cash in the amount of EUR 7.6m (AUD 12.7m.) to complete the acquisition of all TMS shares, which are owned by TMS management and employees who will continue working in the company. The expanded IBS operations in Australia will have over 100 employees. The revenu in the two companies during last year amounted to approx. EUR 13.5m (AUD 22.5m.) and is expected to increase substantially during 2005.

The acquisition of TMS is in line with IBS strategy to specialise in supply chain management solutions within selected markets where IBS is an international market leader or has the potential to become the leader. By acquiring TMS, we gain substantial increase in market share in Australia and establish a leading position as a business software supplier to the publishing industry, says Magnus Wastenson, CEO and President of IBS.

TMS publishing solution, Bookmaster, is already used by more than 80 publishers in 16 countries and is the most widely used publishing ERP in the world. TMS customers include major publishers such as Penguin, Pearson, HarperCollins, McGraw-Hill, Macmillan, Elsevier and Harvard University Press, as well as international consumer electronic distributors including Hagemeyer, Pioneer, Makita and Sanyo.

By using IBS international network in 22 countries, we will have the opportunity to further expand our significant presence in the publishing industry, a segment where the largest ERP suppliers have struggled to establish themselves, adds Magnus Wastenson.

Staffan Wensing, MD of IBS Australia, comments on the addition to IBSoperations in Australia: TMS is a well managed company with an impressive set of customers, excellent software and highly competent people. We will continue to support and develop TMS solutions and Australia will be the international competence center for the publishing industry within the IBS Group. Because we use the same base technologies, there is strong synergies in our product offerings.

Jim Abad, CEO and founding director of TMS comments on the agreement with IBS: This is an excellent outcome for TMS and our customers. IBS international presence, their strong technology and their support resources will enable us to further strengthen our position in the major international publishing markets of North America and Europe. IBS will also help ensure our existing customers can look forward to continuity and certainty.

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