Ascom & Neopost Announce the Closing of Ascom Hasler
Ascom, the internationally active Swiss high-tech Group and Neopost, the number two world-wide supplier of mailing solutions, today announced the closing of the acquisition of Ascom Hasler, the number three world-wide supplier of mailing systems. Following the closing of Ascom Hasler North-American operations on February 28, 2002, this is now the second and last step of the transaction that is being processed, with the acquisition of Ascom Hasler’s operations outside North America.
In 2001, the revenues of Ascom Hasler outside North America were Euro 76 million, mainly from the UK, Germany and Switzerland. The price paid for the operations outside North America is Euro 84,2 million.
These newly acquired operations will be consolidated within Neopost accounts starting on June 1, 2002. Ascom Hasler North America has been consolidated since March 1st, 2002.
On 2002 fiscal year, Neopost will benefit from the contribution of Ascom Hasler North America for 11 months, and from the rest of the world’s operations for 8 months.
On the whole, the entire world-wide operations of Ascom Hasler achieved sales of Euro 207 million in 2001. The price paid for the overall acquisition is Euro 216.6 million. With this acquisition, Neopost’s mailing system installed based market share grows from 15% to 25% world-wide.
Commenting on the closing, Jean-Paul Villot, Neopost Chairman and Chief Executive Officer, said: “We are very happy to be able to close today the acquisition of Ascom Hasler, which is for us a major and strategic operation. We will immediately do everything to rapidly implement the planned synergies.”
Reminder of the timetable
October 2, 2001: announcement of the acquisition of Ascom Hasler.
January 10, 2002: approval of the US Federal Trade Commission and UK decision referred to the UK Competition Commission.
February 28, 2002: closing of the acquisition of the North American operations of Ascom Hasler.
May 23, 2002: acquisition of Ascom Hasler in the UK approved without condition by the UK Competition Minister.
May 31, 2002: closing of the acquisition of Ascom Hasler.
