2 September 2011. International automotive software developer, ASX-listed Infomedia (IFM) announced today that it has acquired 100% of the share capital of Different Aspect Software Ltd (DAS), of Cumbria, England. A UK based software developer specialises in the provision of IT application solutions to the automotive industry.
The acquisition price was £3,174,000 and was fully funded by a foreign currency cash advance facility. Under a share purchase agreement Infomedia has acquired the entire Company including all intellectual property rights and its contracts.
The acquisition provides Infomedia with a mature suite of software products which have application to both the existing Infomedia customer base as well as new markets. The flagship product VHC-Tracker™ is one of the leading vehicle service sales tools in the UK and has applicability in retail automotive markets globally. Infomedia Executive Chairman, Richard Graham said that the acquisition of DAS supports Infomedia’s growth strategy and objective of providing more product depth.
DAS founder and Managing Director, Jason Thorpe, along with the other senior managers and employees, will continue with the Company and will operate as a subsidiary of Infomedia.
Infomedia’s Director of Global Business Development, Karen Blunden said, “This acquisition creates a powerful combination of innovative software design, with the strength and maturity of the longest standing independent electronic parts catalogue producer in the world. We believe that this combination will greatly advance the productivity and profitability of all our customers.”
Jason Thorpe said “Dealers are catching on very quickly to the economic power of our ‘vehicle health check’ product line. Our customers already include BMW, Land Rover, Mercedes, Toyota, and Vauxhall dealers. The acquisition will allow seamless integration of VHC-Tracker with Infomedia’s precision service quoting application, Superservice Menus. The dealers will have the most comprehensive service selling tools in the world.”
“Our development teams in Cambridge, Sydney and Melbourne will be working in the coming months to cross-integrate the Different Aspect products and Infomedia’s flagship products, Superservice Menus and Microcat LIVE”, stated Infomedia’s Executive Chairman, Richard Graham “The acquisition contributes to our vision for a powerful collaborative environment for dealership fixed operation departments. We call that environment, Microcat.Network.”
Ms. Blunden stated that one of the key elements of the company’s vision is that it is making it easy for dealer management system providers to integrate to the company’s applications using open interface standards. “Now for the first time, DMS providers can use a single free interface to value-add their customers with world-class online electronic parts catalogue, precision menu pricing, vehicle health check, service register, online service booking, not just for a single automaker but for many automakers at one time. For many DMS providers, our products bring a new breath of life to them.”
“We’ve long anticipated a wider market for our products, stated Jason Thorpe. Now, as part of a global leader in fixed operation solutions, we can add value to the thousands of existing Microcat and Superservice Menu users around the world with new products that are essential in today’s dealerships.”
Based in Sydney, Infomedia creates and markets the Microcat® electronic parts catalogue, and Superservice Menus® precision service quoting systems that are used by tens of thousands of automotive retailers in over 185 countries. Microcat is celebrating its 21st anniversary this year. Licensors include Chrysler, Ford, General Motors, Hyundai, Jaguar, Kia, Land Rover, Toyota, and other top brands.
The Company recently provided guidance that it anticipated its 2012 financial year sales revenue to be between $43M and $45M, and net profit after tax to be between $7.5 million and $8.5 million. The Company doesn’t anticipate the acquisition will materially alter that FY 2012 guidance.