The takeover is the result of a fine-tuning of the Irmato strategy and the conviction that the activities would be more effective if carried out by a company with a strong strategic fit. Nspyre considers the takeover an enhancement and expansion of services, as both the technology and customer base are complementary. Both organizations also foresee close collaboration on various projects in the market in coming years.
Nspyre engineering services will further specialize and strengthen its services in mechanics and mechatronics with knowledge of the entire product development process (from CAD/CAM/CAE to EDM/PDM and PLM). The takeover involves 50 engineers working at the Irmato branches in Groningen and Veghel, for whom employment, working conditions, and branch policy in the region are safeguarded as part of the takeover.
According to Philip van Blanken, CEO of Nspyre, the takeover is a perfect fit for their growth ambitions. ‘We are deliberately opting to strengthen our services in areas in which technology plays a vital role. This takeover offers us the possibility to offer even better and broader services to customers and to further reinforce our development over the past few years.' And, according to Vitor Moonen, CEO of Irmato, this step is in keeping with Irmato’s ambitions. ‘The transfer of these activities offers Irmato the possibility to fine-tune our strategy and focus and further develop our core business.’
Expected turnover for Nspyre for 2014 as a result of the takeover is around EUR 63 million pro forma. Further turnover growth is expected for 2015. Both parties have decided not to share information on the financial details of the takeover.
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