Leuven, June 30 2008 - Metris (MTRS, Euronext Brussels) announces that it has acquired 100% of the stock of Integrated Quality Inc. (IQ), a US company specialized in developing software for Coordinate Measuring Machines (CMM). This transaction fits in the Metris acquisition strategy to strengthen its product portfolio and to extend its distribution channels to the market.
The purchase price amounts to US$5.9 million, representing an EV/EBIT08 multiple of 4.5. Independently from Metris, IQ expected for 2008 a sales growth of more than 20% and an EBIT margin above 50%.
''As a result of this acquisition, we can now offer mid-segment, easy-to-use CMM software that interfaces with nearly all Coordinate Measuring Machine brands. In addition, we will benefit from the complementary distribution channels to deploy our new technology products.'' comments Bart Van Coppenolle, President and CEO of Metris,
''The IQ acquisition will further leverage the Coord3 (aluminum CMMs) and Garda (articulated arms) acquisitions and strengthen our position in the mid-segment micro-metrology market. More specifically, this acquisition will expand Metris' retrofit services and accelerate the adoption of our optical technologies in the mid-segment market.''
Mr. Yan, COO of Integrated Quality Inc adds ''The key benefit of IQ software is its easy operation, making it the ideal tool to retrofit existing CMMs or equip new metrology installations. The IQ software has been specifically developed from the perspective of CMM operators, with the purpose to maximize the shop floor inspection productivity without compromising on usability.''
Metris today also announces the successful completion of the integration of the industrial CT company X-Tek.
About Integrated Quality Inc.
Founded in 1994, Integrated Quality, Inc. is a US based CMM software developer with headquarters in Columbus, Ohio. Since its inception in 1994, IQ has supplied CMM software products to thousands of customers worldwide. The flagship CMM-Manager software can retrofit any manual CMM and is plug-and-play deployable for most CNC-based CMMs on the market.
More information can also be found on www.iq-metrology.com.