Neopost announces the acquisition of Ascom Hasler, the Ascom Mailing Systems Division

Neopost announces the acquisition of Ascom Hasler, the Ascom Mailing Systems

Neopost will add 33% to its revenues and grow its global market share from
15% to 25%
Neopost, the European leader and number two worldwide supplier of mailing
solutions, today announced the acquisition of the number three worldwide
supplier of mailing systems : Ascom Hasler, the Mailing Systems Division of
the Swiss group Ascom.
The acquisition price has been set at Swiss Francs 359 million (around Euros
240 million), subject to final adjustments at closing. The completion of the
transaction is still subject, amongst other things, to governmental
Based on 2000 figures, the combined revenues of Neopost and Ascom Hasler
represent Euros 684 1 million.
Commenting on this major acquisition, Jean-Paul Villot, Neopost Chairman and
Chief Executive Officer, said: “This transaction is in line with our clearly
stated intention to play a leading role in the restructuring of our
industry. The acquisition of Ascom Hasler represents a strategic step in our
international expansion: it reinforces our market positions in the world key
markets, the USA, Canada and the UK, and brings direct distribution in the
German market. It will add 33% to our revenues. Neopost and Ascom Hasler are
a perfect match.”
Neopost today also announces strong performance of its 2001 interim results.
The group expects further improvement in profitability. Such information is
available in a separate release.
Over the past 20 years, Ascom Hasler has achieved a strong business record,
growing from 1% worldwide market share in 1980 to 10% in 2000. Ascom Hasler
achieved in 2000 net revenues of Euros 170 million, with an EBITDA margin of
“We are pleased to welcome on board Ascom Hasler’s 1000 employees. We are
also very keen to work with Ascom Hasler’s talented international management
team. We share the same challenges and growth culture”, added Mr Villot.
Patrick Nangle, Chief Executive Officer of Ascom Hasler said: “This is very
good news for our division. We are very excited by the opportunity of
further developing our business together with the management of Neopost. The
combination of our operations reinforces Neopost as the firmly established
world-wide number two player with clear competitive advantages and a strong
Neopost / Ascom Hasler : a strong combination
The table below shows the increase in market shares which will result from
the acquisition of Ascom Hasler. The five countries mentioned in the table
together represent approximately 81% of the worldwide market:

In % of
installed base
of franking machines Neopost Ascom Hasler Neopost combined
USA 9% 8% 16%
Canada 10% 11% 21%
Germany 7% 11% 18%
UK 23% 16% 39%
France 65% 0% 65%
Worldwide 15% 10% 25%
Source: Postal Organisations figures as of December 2000
Overall, Neopost market share will grow to 25% from 15% of the world Mailing
Systems market.
Similarly to Neopost, Ascom Hasler enjoys high levels of recurring revenues.
The combined level of recurring revenues (rentals, leases, services and
supplies) will reach 58 % of total sales.
The enlarged Neopost Group: a strong starting point and significant
potential synergies
The acquisition of Ascom Hasler provides significant potential synergies in
commercial, industrial and operational areas.
The combined group will service more than 750,000 clients, to be offered the
full range of Neopost Mailing Systems, Documents Systems and Logistics
In terms of production, the integration of Ascom Hasler within Neopost will
allow the combined group to gain from volume effects, quantities produced
being 30% to 40% higher.
Neopost and Ascom Hasler will join their efforts in terms of Research and
Development, in a unified program, leading to stronger potential innovation
and economies of scale.
Other economies of scale will exist in marketing and sales, G&A, support,

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