KBC ADVANCED TECHNOLOGIES PLC London, UK - 8 April 2016
We are delighted to announce that the acquisition of KBC Advanced Technologies plc ("KBC") by Yokogawa Electric Corporation ("Yokogawa") completed yesterday, 7 April 2016. Completion of the acquisition of KBC by Yokogawa follows an earlier unsuccessful offer by Aspen Technology, Inc. (AspenTech) to acquire KBC.
We are extremely excited about what the future holds for KBC with Yokogawa. Yokogawa recognises the strength of KBC's technology, consultants and leadership and will invest in KBC's future success. Whilst we are coming together with Yokogawa as a wholly-owned subsidiary, Yokogawa admires and recognises the strength of the KBC brand and will maintain and invest in it. All current contractual obligations between KBC or its subsidiaries and clients and partners and other third parties will continue to be honoured, with no change to terms and conditions for contracted and ongoing product and / or service obligations.
The integration of KBC's distinct consulting and software capabilities with Yokogawa's excellence in the industrial automation field will ensure we continue to deliver superior results for our clients which are sustained over the long term. With Yokogawa we are able to accelerate our strategy which is centred on making our clients world-class in terms of operational excellence and profitability.
Joining Yokogawa brings a unique dimension to KBC's market offerings. Combining both companies' services widens the range of KBC's service portfolio from premium consulting services to simulation software, control systems and sensors, allowing us to improve clients' efficiency from management to the field, focusing on the entire lifecycle of our clients' assets. As a result, we will be able to focus more on ultimate value to our clients. We are excited to be taking our next step towards being the most innovative technology-based consulting company for hydrocarbon facilities - solving our client's toughest challenges.
Andrew Howell
Chief Executive Officer
KBC Advanced Technologies
Commenting on the acquisition, Takashi Nishijima, President and CEO of Yokogawa, said: "We have long admired KBC's successful consulting business and sophisticated software capabilities and we are excited about this acquisition and partnership that will enable KBC to
develop and broaden its business. Together, we can provide a one-stop solution that we believe clients will value highly. This kind of integrated service will not only create value for clients but also drive technological innovation and ensure that the Yokogawa group remains at the forefront of the industry. Expanding our Advanced Solution business is a strategic priority for Yokogawa and KBC is the ideal partner for us to achieve this goal."
KBC Advanced Technologies plc | +44 (0)1932 242424 |
KBC is a successful provider of software and consultancy to the oil and gas industry, focused on operational excellence and profit improvement for both the upstream (oil production) and downstream (oil refining and refinery-integrated petrochemicals) segments. The focus of KBC's consulting offering is operational excellence and profit improvement programmes using proprietary engineering-oriented process optimisation / simulation software. KBC's advice is delivered by consultants with deep industry/domain-specific knowledge and operating experience. KBC's technology offering comprises upstream flow assurance, fluid characterisation and facilities process simulation and optimisation software, spanning from the wellhead in upstream to the facilities in midstream and downstream. KBC has a clear focus on quality, usability and innovation in its software products. For more information, visit www.kbcat.com.
Yokogawa is one of the leading players in the global industrial automation industry with a turnover of approximately US$3.5 billion. Yokogawa engages in cutting-edge research and innovation in three business segments, namely industrial automation and control, test and measurement, and aviation and other businesses. Yokogawa's global network includes 88 group companies across 56 countries. Yokogawa is listed on the Tokyo Stock Exchange. For more information, visit www.yokogawa.com.
KBC Advanced Technologies plc issued this content on 08 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 April 2016 14:44:32 UTC
Original Document: http://www.kbcat.com/images/documents/industry_releases/2016_Announcing Yokogawa_s acquisition of KBC.pdf
