Aldata Solution Oyj, STOCK EXCHANGE RELEASE , 20 March 2012 at 8.30 a.m. (EET) ALDATA SOLUTION OYJ: ALDATA ANNOUNCES THE SALE OF ITS FINNISH SUBSIDIARY TO SOLTEQ AND LOWERS ITS FULL YEAR OUTLOOK ACCORDINGLY Aldata Solution Oyj (Aldata) announces that it has entered into an agreement to sell its local Finnish subsidiary, Aldata Solution Finland Oy (Aldata Finland) to Solteq Oyj, a Finnish provider of Retail and ERP software. Solteq Oyj buys all the shares of Aldata Finland for a purchase price of EUR 8.3 million to be paid in full by bank transfer on completion. At the purchase date Aldata Finland does not have interest-bearing debt. The transaction is a share sale and purchase agreement and is expected to close during March 2012. The transaction is subject to the finalization of the directed share issue of Solteq Oyj. The transaction is not subject to approval from the relevant competition authorities and all necessary Board of Director's approvals have been received prior to signing by both parties. The transaction will generate a non-recurring gain for Aldata in Q1 2012 of EUR 6.0 million. The terms of the agreement include the rights to certain locally produced Aldata products for mid-size retailers and restaurants including the 1-2-1 product line based upon the Microsoft Dynamics AX for Retail platform. The intellectual property rights to all other Aldata Global Products including Aldata's Customer Loyalty products will remain with Aldata. As from the completion date, Solteq will become Aldata's distributor for its global product lines of Supply Chain Management, Category Optimization, and Customer Loyalty products in Finland and the surrounding countries. "The divestment of our Finnish subsidiary to Solteq makes great sense for both our companies, our employees and most importantly for our customers in Finland and the Baltics" said Roy Simrell, President & CEO of Aldata. "It secures continued investment and servicing of Aldata products for existing customers, allows Aldata to focus its resources on global product innovation, and provides Solteq with a richly expanded product line to sell across the region. While the transaction was done at a lower valuation multiple than Aldata as a whole is valued at, in combination with the financial support that Symphony is providing the Company it helps us to address our liquidity issues and put the Company on better financial ground." Aldata Finland supplies business management software and related services to retailers, restaurants and hotels in the Nordic region and Russia. Aldata Finland generated sales of EUR 13.3 million and delivered an EBIT of EUR 1.2 million in 2011, and employed approximately 70 people in its offices in Espoo, providing R&D, sales, services, and support to its regional customers. Aldata consolidated results will include the actual results for Aldata Finland for January and February 2012. These results are in line with Managements' forecasts for 2012 and are below the levels achieved in 2011 due to the impact of one large license sale booked in 2011 that is not expected to be repeated in 2012 in the Supply Chain Management business unit. If the divestment of Aldata Solution Finland Oy completes as is expected, it will have an impact on Aldata Group's full year outlook. Aldata Groups full year 2012 net sales would be expected to decrease significantly in 2012 and operating profit excluding non-recurring items would be expected to decrease in 2012. The previously provided outlook was for the full year 2012 net sales to remain at or slightly below the level reported in 2011 and the full year 2012 EBIT to be at or slightly below the level reported in 2011, excluding the impact of certain one off costs incurred in 2011. "We are delighted to have this opportunity and at the same time to establish partnership with Aldata to serve clients in Finland and surrounding countries in the future," said Repe Harmanen CEO of Solteq Oyj, "Our shared sector focus and complementary people, products, and services create a strong platform for profitable growth." Solteq Oyj offers operational and financial control services to commercial, logistics, industrial and public administration organizations. In 2011 Solteq generated revenues of EUR 27.1 million and employed 211 people. Aldata Solution Oyj Further information: Graham Howell, CFO, tel. +33 633 057 620 About Aldata Aldata is a global leader in retail and distribution optimization. Our software and service solutions help retailers, distributors and manufacturers dramatically improve their business performance. We optimize categories, space, supply, logistics, and consumer engagement to increase our customers' revenue and margins, reduce time, cost and waste, and enhance on-shelf availability, service, and retention. Founded in 1988, Aldata has an unparalleled track record of delivering successful projects for the world's largest retail and consumer brands, national wholesale and distribution organizations, and regional store chains. Aldata Solution is a public company quoted on NASDAQ OMX Helsinki Ltd with the identifier ALD1V. Discover more about Aldata's customers, our solutions, and the multi-skilled global team that supports them at www.aldata.com Distribution: NASDAQ OMX Helsinki Ltd Media www.aldata.com [HUG#1595608]
ALDATA SOLUTION OYJ: ALDATA ANNOUNCES THE SALE OF ITS FINNISH SUBSIDIARY TO SOLTEQ AND LOWERS ITS FULL YEAR OUTLOOK ACCORDINGLY
| Quelle: Aldata Solution Oyj