Ansys acquires Profitek
AltX-listed Ansys is in the process of acquiring industrial equipment supplier Profitek Industrial Communications, Ansys said on Friday.
The deal will see the engineering solutions provider pay an upfront R40-million – 30% in cash and the balance settled with Ansys ordinary shares – with a R10-million earn-out or claw-back option in place, ensuring a minimum purchase price of R30-million and a maximum purchase price of R50-million.
The price will remain subject to the performance of Profitek during the financial years ending February 28, 2018 and February 28, 2019.
In the company’s pursuit to become a digital technology solutions provider that leverages its own intellectual property to provide world-class products for global distribution, the acquisition is aimed at enhancing Ansys's safety and productivity business division.
The deal remains subject to the completion of detailed financial, tax and legal due diligence; the commitment of selected senior staff and management to continue their employment with Profitek during the earn-out period; the approval of the transaction from the boards of Ansys and Profitek; and all other statutory and regulatory approvals and requirements required, among others.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation