1660263920341 Pieterstaffannewsweb

HMS Networks AB acquires remaining shares of Procentec B.V.

April 14, 2022

Pieter Barendrecht, CEO of Procentec B.V (left) and Staffan Dahlstrƶm, CEO of HMS Networks (right) on site in Rotterdam

HMS Industrial Networks AB, a wholly owned subsidiary of HMS Networks AB, acquired the remaining 30% of the shares in Procentec B.V. based on pre-determined option conditions. HMS acquired 70% of Procentec on October 1,Ā 2020, and following the latest transaction Procentec will be a wholly owned subsidiary.

The Procentec offering focuses on diagnostics and monitoring of factory networks. Acquiring the remaining shares in Procentec is a natural step for HMS which opens for a closer integration of Procentec to realize synergies both in sales and marketing as well as product development.

ā€œWe are very happy with the development ofĀ ProcentecĀ and theĀ greatĀ workĀ done byĀ theĀ management teamĀ and the Procentec employeesĀ since joiningĀ HMS.Ā IĀ amĀ veryĀ pleasedĀ with this transaction and excited about our continuedĀ journey aheadĀ during whichĀ we can explore more synergies between the companiesā€Ā said Staffan Dahlstrƶm, CEO of HMS Networks.

Pieter Barendrecht, CEO of Procentec B.V., added, ā€œWeĀ are committed toĀ continueĀ to drive and developĀ ProcentecĀ further,Ā andĀ look forward toĀ benefittingĀ from evenĀ deeper collaborationĀ with HMS."

Procentec is already consolidated to 100%, hence there will be no impact on HMS’ Earnings Per Share from the transaction.

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