Adastra Systems Joins JUMPtec US Embedded Technology Leader Purchased by European Competitor Major Step Towards World Market Leadership
Adastra Systems was founded 1993 by Marc Brown, the present and future CEO, and four others who currently serve as corporate officers. Mr. Brown and his management team currently hold over 70% of the shares in Adastra Systems and will continue to manage the company in the new organization. The Company has enjoyed strong growth since its founding and is featured in the Inc. 500, the 1999 issue of Inc. Magazine's list of America's fastest-growing private companies. Adastra has developed into a leading supplier in the embedded technology market, and anticipates even faster growth under the new organization.
The terms of the acquisition were not completely disclosed but include provisions that base the price for Adastra Systems shares on a performance formula and the ongoing employment of the management team. The price shares will be paid in cash and by a minor capital increase of JUMPtec below 3% of the shares outstanding.
Major Step Towards World Market Leadership
JUMPtec also recently acquired Inside Technologies A/S, a Danish embedded technology company, with a large market share across Europe. With the acquisition of Adastra Systems, JUMPtec continues to take significant steps towards a position of worldwide market leadership with total sales of the combined companies exceeding $50M. JUMPtec has 75% of its sales within Germany, and together with Inside Technologies will have 90% of its sales within Europe. Adastra has 95% of its sales in the US. The combined sales forces will efficiently cover the major markets of the US and Europe.
Marc Brown, CEO of Adastra Systems, said that both Adastra Systems and JUMPtec were actively seeking partners as a means of growth, resulting in the merger. Both companies, he said, share a vision of leadership in the embedded technology market and that the combination of JUMPtec, Inside Technologies, and Adastra Systems will create a dynamic, powerful company capable of keeping pace with customer demands. The combined organization, Mr. Brown added, will continue to provide the high quality, exceptional service, and leading-edge technology the individual companies have been noted for, with greater efficiency and economy.
Additional information may be obtained by contacting Adastra Systems Corporation or JUMPtec Industrielle Computertechnik AG directly. At Adastra Systems, contact Bruce Boyer at 510.732.6900 (voice), 510.732.7655 (fax), or bboyer@adastra.com (email). At JUMPtec, contact Johann Mühlbauer at 49.991.37024.0 (voice), 49.991.37024.16 (fax), or hans.muehlbauer@jumptec.de (email).