The purchase price of €13.3m is based on a cash-free/debt-free basis and is paid in cash. Depending on Intesis reaching certain defined financial targets an additional €2m may become payable in early 2019.
Intesis was founded in 2000 and is headquartered in Igualada, Spain, close to Barcelona. It offers advanced communication gateway solutions and interfaces within the fields of building automation. The company’s building automation solution is marketed as IntesisBox.
Intesis is said to have worked closely with many major air conditioning manufacturers including Daikin, Fujitsu, Mitsubishi Electric, Panasonic, Toshiba, Samsung, LG and Carrier.
HMS Networks AB is a market-leading supplier of products for industrial communication including remote management. Development and manufacturing take place at the headquarters in Halmstad, Sweden, Nivelles, Belgium and in Ravensburg, Germany. Local sales and support are handled by sales offices in China, France, Germany, Switzerland, India, Italy, Japan, UK, and USA.
“We see great potential in lifting the Intesis business and our technology platform to the next level by becoming part of HMS, one of the global market leaders in industrial communication,” commented Pedro Lumbreras, founder of Intesis.
“Intesis’ protocol and application know-how and its market-proven solutions are important additions for HMS. It is an excellent fit with our growth strategy,” said Staffan Dahlström, CEO of HMS Networks AB. “Intesis’ strong position in the market for integration solutions for building automation will complement HMS’s existing gateway offering perfectly. Intesis will give HMS a strong footprint and valuable inroads into the market niche of building automation systems.”