7/30/2002 - Kontron, one of the leading global embedded computer technology companies, announces that shareholders of its parent company, Kontron Embedded Computers AG, have overwhelmingly approved the previously announced merger between Kontron and JUMPtec Industrielle Computertechnik AG (Deggendorf, Germany) at the July 3 Kontron Annual Shareholder Meeting. The merger, which received 99.98% shareholder approval, had already been approved by JUMPtec shareholders at their annual meeting in June. The merged companies will operate under the corporate name of Kontron.
The merger between Kontron and JUMPtec creates the first full service embedded computer company to provide an extensive product offering combined with worldwide sales, service, and support available 24 hours a day, 7 days a week, 365 days a year.
In addition, the combined engineering resources from the two companies will further strengthen Kontron's ability to quickly provide leading technology its customers.
Some of the key JUMPtec products to be added to Kontron's portfolio are:
The merger agreement was approved in April 2002 by Kontron and JUMPtec management, based on each company's internal recommendations and reports from outside analysts. Over the next 2 years, Kontron expects to achieve €25 million in savings as the result of economies of scale.
Under the merger terms, each Kontron shareholder will receive 11 shares in the new company for every 10 old Kontron shares, while JUMPtec shareholders will receive 5 shares for every 7 JUMPtec shares, as well as €0.01739 in cash for each JUMPtec share. The share exchange is expected to occur in August 2002. Financial consolidation of Kontron and JUMPtec will be in accordance with US-GAAP (Generally Accepted Accounting Principles); JUMPtec financial results are expected to be incorporated into Kontron financial reporting beginning in September 2002.
For more information on the merger between Kontron Embedded Computers AG and JUMPtec Industrielle Computertechnik AG, please contact Jennifer Rodriguez, Kontron America, 6260 Sequence Drive, San Diego, CA 92121-4371. Tel: 858-677-0877; Fax: 858-677-0895; Email: firstname.lastname@example.org; Web: www.kontron.com
ABOUT KONTRON: Kontron is a leading global embedded computer technology company. Kontron supplies a diversified customer base of OEMs, system integrators and application providers in the communications, automation, transportation, medical, military, aerospace, and test and measurement markets. The company helps its customers to considerably reduce their time-to-market and to gain a competitive advantage with products including high-performance open computer platforms and systems, single-board computers, man-machine interfaces and mobile computers. Kontron is a member of the Intel Applied Computing Platform Provider Program (ACPP Program). Kontron employs over 1100 people worldwide and has manufacturing facilities in Europe, North America and Asia Pacific. The company is listed on the German Neuer Markt stock exchange under the symbol "KBC".
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