IBS acquires automotive software vendor
International Business Systems (IBS) has acquired all shares of software developer IDS. 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, USA, 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.
IBS CEO Magnus Wastenson saud the acquisition of IDS was in line with IBS’ strategy to specialise in supply chain management solutions within selected markets where IBS could be an international market leader.
“By acquiring IDS, we will significantly increase our market share within the automotive market,” he said.
“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.
“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,” he added.
“This is an excellent outcome for IDS and our customers.”
11-May-2005