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Updated: July 8th, 2008 05:26 PM CDT

Stemmer Imaging Group Acquires Three Companies

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BREAKING NEWS

Stemmer Imaging Group Acquires Three Companies

Stemmer Imaging GmbH ( Puchheim , Germany ) has acquired three companies to expand its sales territory in Europe . Firstsight Vision (Tongham, Surrey , UK ) and Omni Ray ( Dübendorf , Switzerland ) will be acquired as of July 1; Stemmer Imaging AG will be formed at that time. Imasys ( Suresnes , France ) will join the group in the third quarter of 2004.

This merger will create the largest sales organization in Europe for image processing components. According to Stemmer Imaging Founder and Chief Executive Wilhelm Stemmer, sales will be estimated at 30 million Euros ($36.0 million). ?The new subsidiaries will also enjoy considerable benefits from the expanded company structure, since overall this will lead to improved purchasing conditions as well as optimum distribution of costs and tasks,? he said. ?All the companies in the group will thus experience the considerable synergy effects.?

The sales region will comprise of Germany , Great Britain , France , Austria and Switzerland . Stemmer Imaging's previous sales territory only covered Germany and Austria . ?Until now, we have to a certain extent been serving the Swiss market from Puchheim alongside our German and Austrian operations, but have, in all honesty, not been giving this interesting market as much attention as it deserves,? stated Christof Zollitsch, Stemmer Imaging's chief technical officer. ?The acquisition of the existing image processing group of Omni Ray means that we are much better places to exploit the potential of the Swiss image processing market in the future.?

For the past few years, Stemmer Imaging has had stakes in both Imasys and Firstsight Vision; these two companies are distributors of image processing components in their respective countries. Stememr Imaging has now increased their shares in these two companies to a majority holding of 51%.

According to IMS , a market analysis firm in Wellingborough , UK , 70% of all sales In the European image processing market are generated in the five aforementioned countries. For Great Britain and France , IMS predicts an annual sales growth of approximately 18% between 2004 and 2007 ? the largest growth rate in Europe . The study also predicts an increase of around 10% year on year for Germany .

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