Dutch TPG acquires majority share in Prime Vision

Mail, express and logistics company TPG N.V., through its subsidiary TPG Post B.V. has acquired a 60% majority share in Prime Vision B.V. from TNO Beheer B.V. Prime Vision is a globally operating company based in Delft, the Netherlands, which specialises in the development, production, marketing and sales of pattern and character recognition products.

TPG Post uses pattern recognition software and technical applications in its letter processing operations, and in particular during sorting. Further development of pattern and character recognition software and technology is important to TPG Post for further improvements of the efficiency of the sorting process.

TNO is looking to a partnership with an internationally oriented company in the Netherlands to enable it to expand and develop Prime Vision’s activities.

Harry Koorstra, Group Managing Director Mail, says: “Co-operation between both companies makes it possible to realise the growing need for efficiency improvements within the European mail market”.

Prime Vision is a leading company specialising in the development of technology for the automatic scanning of addresses, vehicle licence plates, cheques and bank transfers for customers in the postal, banking, and traffic and transport sectors. The company achieved sales of € 2.5 million in 2002 and employs approximately 30 people. Prime Vision is a subsidiary of TNO Beheer B.V, the private-law arm of TNO. Around 45 companies are active within TNO Beheer, all focusing on further commercialising knowledge in the Netherlands and abroad.

TPG N.V., with its two brands TNT and Royal TPG Post, is a global provider of mail, express and logistics services. The group employs over 161,000 people in 62 countries and serves over 200 countries. For 2002 the company reported sales of € 11.7 billion, an increase of 5% over the previous year. In the first half of 2003 sales have grown by 1%. TPG N.V. is publicly listed on the stock exchanges of Amsterdam, New York, London and Frankfurt.

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