|Ad-hoc Announcement, March 19, 2004
MEDION acquires a 24.9 % stake in GERICOM
MEDION AG acquires a 24.9%-stake in the subscribed capital of EUR 10.9m of GERICOM AG (Linz, Austria), which is listed in the S-DAX index. MEDION is acquiring these shares from Oberlehner Deutschland Beteiligungsgesellschaft mbH.
GERICOM AG markets IT products, with the focus on the fast-growth Mobile Computing segment. The company has long-standing prime relationships with major suppliers and on the selling side is well positioned with leading retailers inside and outside the country.
MEDION and GERICOM both expect to benefit from collaboration above all in downstream activities, advantages that will serve to strengthen their respective market positions.
In this regard, the two companies' respective product lines service different market segments.
||While MEDION's PC and multimedia articles are well established as prime value-for-money products in the mid- and high-end price segments, and realize the latest technologies in time-to-market, with its product line GERICOM not only fields special technological solutions and the middle market segment but also the entry-level price segment. |
The two corporations complement each other on the selling side, as there is no significant overlap in their client bases.
Both corporations will continue to act independently in the market and source their own financing.
Both parties agreed to maintain confidentiality on the price paid for the stake. That said, the valuation of the shares duly reflects the business status of GERICOM AG.