Matrikon buys Integration Automation & Control
Edmonton, Alberta -- Matrikon has acquired Integration Automation and Control Pty Ltd. (IAC), a private Newcastle, Australia-based company. Established in 2000, the 21 staff of IAC provide automation and information systems services to the Hunter Valley coal industry.
"The acquisition of IAC further establishes Matrikon's automation and information systems expertise within Hunter Valley's coal industry," said Sam Crisafulli, Matrikon's managing director for Asia-Pacific. "IAC's strong management team adds bench strength to enable Matrikon to continue to expand market share and take advantage of ongoing opportunities in the Hunter Valley. As a similar business with unique clients, the IAC integration is expected to be immediately accretive to both revenue and earnings."
IAC director Les Madden commented on the business combination: "We are excited to join Matrikon to become the largest provider of automation and information solutions to the coal industry in the Hunter Valley. We believe the combination positions Matrikon for continued growth with an expanded resource pool with complementary expertise and skill sets and strong, long-term customer relationships.
"The coal industry is a major component of Matrikon's Asia-Pacific business and opportunities for continued growth in the Hunter Valley remain significant.
Matrikon acquired IAC for AUD$1.65 million in cash for all issued and outstanding shares of IAC plus the value of the net assets of the company on September 1, 2009 (estimated at a further AUD$0.35 million). IAC generated AUD$3.54 million of revenue during 2009.