ICT Group N.V. (ICT) announces that it has completed the purchase of the remaining 50% of the shares of InTraffic B.V. (InTraffic) from former joint venture partner Movares Group B.V. (Movares). ICT now holds 100% of the shares of InTraffic.
The acquisition of InTraffic enables ICT to further expand its position in the strategic ‘Smarter Cities’ theme. It also supports ICT’s strategic objective to become a leading total solutions provider.
InTraffic, located in Nieuwegein, designs and builds applications for Traffic Management, Infrastructure Monitoring and Travel Information. The company was founded in 2003 as a joint venture between ICT and engineering company Movares. With 150 professionals InTraffic generates annual turnover of approximately € 19 million.
InTraffic will be fully consolidated as from 22 March 2018, while ICT’s former 50% stake used to be reported as result from joint ventures. The purchase consideration for 50% of the shares will be paid in cash. Further financial details will not be disclosed.
ICT Group N.V. is a leading industrial technology solutions and services provider. Our specific industry knowledge of various markets, enables us to realise innovative solutions. Over 1000 passionate technical specialists are working for the ICT Group. The following subsidiaries are the main operating entities of the ICT Group: ICT Netherlands (ICT Automatisering Nederland B.V.), ICT Belgium, Strypes Bulgaria (Strypes EOOD), InTraffic B.V., Raster (Raster Industriele Automatisering B.V. and Raster Products B.V.), Improve (Improve Quality Services B.V.), NedMobiel B.V., BMA (Buro Medische Automatisering B.V.) (51%) and ICT Mobile B.V. (51%).
ICT EUR 14,55 -5ct vol. 1.103