Expert digital cinematography company P+S Technik has been acquired by a sensor and automation company in a shares and cash agreement. Augusta Technologie AG has acquired 55% of P+S made up of share swap and cash. The current management of P+S Alfred Piffl and Andreas Dasser will continue to run the company.
The move is seen as beneficial to both companies as the cash injection will allow P+S to expand their scanner business and their prime business of digital cinematography. For the Augusta Group the purchase opens up a new business for them, their current business spans areas from medical to automative. Augusta has also said that more shares could be bought in the future to release more capital for P+S.
“The acquisition of our stake in P+S TECHNIK marks our entrance into the promising growth market of digital film cameras. We intend to take advantage of the market opportunities offered by the film industry and its progressive digitalization, thus enhancing our existing vision tech activities in a further segment”, says Amnon Harman, CEO of AUGUSTA Technologie AG. “We are delighted at being able to not only win an exciting company for our Group but to also take on a management team with outstanding market expertise,“ Harman continues.
“The AUGUSTA Group perfectly complements our developmental capacity in the field of digital capturing. We will enormously benefit from the partnership in the medium term, not only in the area of sensor development, but also in the area of microsystems engineering. This enables us to further develop our camera systems according to the market’s needs. This means the company is set on the right course for the successful penetration of the market. In the future, we will not only set trends, but also fully profit of them,“ says Andreas Dasser, Head of Development and Managing Director of P+S TECHNIK.
The Augusta Group has been a German public company since 1998 and boasts a team of 500 engineers and annual turnover of around EURO 100 million.
In 2010 P+S will post sales of around EURO 8 million but they have admitted that in the short term, the contribution by P+S Technik to sales and revenues will be on the low side. However they do see strong potential in the medium term, with sales growth at P+S Technik hovering around the 20% mark annually.