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IBS, International Business Systems (XSSE IBS B), has acquired all shares of software developer IDS as of May, 2005. IDS product portfolio provides an end to end supply chain solution for the automotive industry. The company has more than 100 employees in the UK, Netherlands, Australia and Thailand. IDS originates from Australia but the fastest growing markets and largest future potential are in Europe, US and Asia. For the financial year ending June 2005, IDS is expected to report a full year revenue of EUR 12m and pre tax profits of EUR 1.2m.
IBS will pay cash in the amount of EUR 12m to complete the acquisition of all IDS shares and a profit based additional purchase price of up to EUR 2m. The management of IDS will continue working in the company. The revenue and profits is expected to increase with the addition of IBS' network of subsidiaries in 24 countries. IDS has a 22 year history of providing world class solutions to many of the largest Automotive companies including Porsche, Daimler Chrysler, General Motors, Toyota, and Volkswagen.
"The acquisition of IDS is in line with IBS' strategy to specialise in supply chain management solutions within selected markets where IBS can be an international market leader. By acquiring IDS, we will significantly increase our market share within the automotive market. With IDS' three products IDSe42, MotoV8 and CatSmart we complement our current offering and create a world leading solution for both importers and dealers in the automotive business. IBS and IDS have the same technology base with both IBM iSeries and Java-Technology in their software," says Magnus Wastenson, CEO and President of IBS.
"By using IBS' international network around the world, we will have the opportunity to further expand our significant presence in this industry, a segment where the largest ERP suppliers have struggled to satisfy the requirements of the importers and dealerships" adds Magnus Wastenson.
"This is an excellent outcome for IDS and our customers. IBS' international presence, their strong technology and support resources will enable us to further strengthen our position in the major international automotive markets of Europe, North America and Asia. IBS' will enable us to further increase the rapid growth that IDS has had during the last three years. This is based on the high value our solutions deliver to our customers. The network of IBS will significantly add to our current reach and will also ensure that our customers can look forward to continuity and certainty," says Gordon Towell, CEO of IDS.
"In addition, we have recently launched a number of new products including MotoV8, a fully integrated Dealer Management System and CatSmart, an on-line Electronic Parts Catalogue. The investment in these new competitive products will benefit significantly from the backing and support of IBS and IDS regional subsidiaries around the world," Gordon Towell added.