November 18, 2013- - Datalogic signs IDEC as the exclusive distributor for Datalogic in Japan.The agreement further strengthens the Group’s partnership with IDEC Corporation through the addition of Datalogic as a shareholder of the Japanese company. At the completion of the transaction, Datalogic will hold 477,640 shares, equal to approximately 1.2% of IDEC Corporation. Datalogic will acquire this shareholding in exchange for its contribution to IDEC Corporation of its shareholdings in Japan..
The exchange of shares has been carried out on the basis of a valuation of IDL/ADC of 417 million Yen (approximately 3.1 million Euro at the current exchange rate), and on a valuation of the IDEC shares based on the average market price during the months of March, April and May 2013. “We are very happy to have concluded this agreement which we consider to be strategic and which consolidates a partnership of over 20 years with one of the main operators in Japan, the leader in the Industrial Automation segment. Thanks to mutual awareness, shared opinions and a balanced mix of competences, we consider IDEC to be an ideal partner for the development in a country where local presence and leadership is a basic requirement for growth.
This agreement, sealed with a share exchange, is the first building block towards leadership in areas in which our presence has been limited up until now and it confirms our desire to expand into the Asia-Pacific area where we consider there to be the potential for above-average market growth," said Romano Volta, of Datalogic.
