init innovation in traffic systems SE

  • WKN: 575980
  • ISIN: DE0005759807
  • Land: Deutschland

Nachricht vom 21.11.2019 | 10:05

init innovation in traffic systems SE plans to fully acquire DResearch Fahrzeugelektronik Group

init innovation in traffic systems SE / Key word(s): Takeover
init innovation in traffic systems SE plans to fully acquire DResearch Fahrzeugelektronik Group

21-Nov-2019 / 10:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

init innovation in traffic systems SE plans to take over the DResearch Fahrzeugelektronik Group with effect from 1 January 2020. With more than 800 customers in German-speaking countries and the EU, the DResearch Fahrzeugelektronik Group is one of the leading specialist suppliers for buses and trains in the field of audiovisual and digital systems technology. The group, consisting of DResearch Fahrzeugelektronik (DFE) responsible for the development and production unit and Derovis GmbH (DVS) as a marketing and sales unit for electronic on-board vehicle systems, both based in Berlin, generates revenues of around EUR 15 million per year with almost 60 employees. As a result of the acquisition, the init group expects revenues growth to be approximately the same from the coming fiscal year onwards. The share deal to acquire 100 percent of the shares is to take place in two stages. The transaction is still subject to due diligence and the approval of the management and supervisory bodies.

The takeover is to be carried out by the init subsidiary iris-GmbH, Berlin, which has been supplying DFE and DVS for many years. The core products of the DFE/DVS Group are mobile video recording and transmission systems for public transport vehicles. DFE and DVS occupy a leading position in this growth market. In the field of video security systems for buses, a market share of approximately 50 per cent can be assumed in the German-speaking region. By expanding the systems to include automatic passenger counting as combination systems, considerable additional revenues with continued high growth potential have been generated, in recent years.

In addition to the direct effect on revenues and earnings due to the full consolidation of DFE and DVS from 2020 onwards, positive effects result from the cross-selling of init products and services in the customer segments of DFE/DVS, from the expansion of the solution portfolio (multifunctional solutions) and the development competencies in the areas of image and video processing in the init group, as well as from synergy potentials in product, project and solution developments. In addition, markets outside the DACH region (Germany, Austria, Switzerland) and the EU can be developed for DFE and DVS products.

Person making the notification:
Simone Fritz
Investor Relations

21-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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