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Tecnomatix Completes Acquisition of USDATA Corp.
September 24, 2003 |Estimated reading time: 1 minute
Herzlia, Israel and Richardson, Texas — Tecnomatix Technologies Ltd. has completed the acquisition of substantially all the assets and liabilities of USDATA Corp.
Under the asset transaction first announced on July 30, 2003, Tecnomatix issued in consideration for the acquired assets 851,226 ordinary shares of which 222,309 ordinary shares will be held in escrow for up to 18 months, and will issue up to an additional 94,581 ordinary shares post-closing, subject to certain adjustment provisions. As part of the asset purchase transaction, SCP Private Equity Partners II, L.P., the primary stockholder of USDATA, purchased from Tecnomatix 139,764 ordinary shares for an aggregate purchase price of $2 million, and a representative of SCP Private Equity Partners is expect to be appointed to the Tecnomatix Board of Directors.
In connection with the acquisition, Tecnomatix entered into agreements that restrict sales and purchases of Tecnomatix shares by USDATA and its stockholders and place volume limitations on future sales of such shares.
The supervisory-level control and data acquisition (SCADA) and manufacturing execution systems (MES) products formerly offered by USDATA — FactoryLinkand Xfactory — will be retained, developed and sold under the Tecnomatix name. Tecnomatix plans to maintain USDATA's extensive network of resellers, distributors and integration partners, augmented by existing Tecnomatix sales channels, to sell FactoryLink and Xfactory, and to leverage this network to sell other Tecnomatix products. Tecnomatix will retain the USDATA Richardson facility and product team as its SCADA and MES competency center.
Tecnomatix Technologies Ltd. is the driving force in Manufacturing Process Management (MPM). For more information, visit www.tecnomatix.com.