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 offering focuses on diagnostics and monitoring of factory networks. Acquiring the remaining shares in Procentec is a natural step for HMS which opens for a closer integration of Procentec to realize synergies both in sales and marketing as well as product development.
“We are very happy with the development of Procentec and the great work done by the management team and the Procentec employees since joining HMS. I am very pleased with this transaction and excited about our continued journey ahead during which we can explore more synergies between the companies” says Staffan Dahlström, CEO of HMS Networks.
“We are committed to continue 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%, hence there will be no impact on HMS’ Earnings Per Share from the transaction.
HMS Networks AB (publ) is a market-leading provider of solutions in industrial information and communication technology (Industrial ICT). HMS is listed on the NASDAQ OMX in Stockholm, category Large Cap, Information Technology.