BOV takes over the Intermoves/B.F.K. Group
Opening up the market segment "Electronic sourcing" / Profitable company with powerful growth
Essen, 31 October 2000 - BOV Aktiengesellschaft the provider of e- services, is continuing its expansion strategy. BOV has acquired 51% of the shares of the Intermoves/B.F.K. Group, a profitable supplier of software for markets in the e-procurement sector. The cost of this acquisition, the amount of which it was agreed would not be disclosed, will be financed principally by BOV shares.
Intermoves/B.F.K. has developed standardised software products for building up digital market-places in the e-procurement sector which provide an ideal complement to the individual software developments being supplied by BOV. The solutions offered by Intermoves/B.F.K. meet all the demands made on the electronic processing of business processes. These include Internet-based processing of procurement and sales as well as a link-up to all the customary ERP systems and thereby joining all partners in the value creation chain. This acquisition means that BOV is resolutely expanding its portfolio to link the IT back office up with the potential available in web technology.
With sales of DM 6 million, Intermoves expects earnings before tax for the current year of DM 0.6 million.
For 2001 gross return on sales in the two-figure bracket are again forecast with a distinct increase in sales. Amongst Intermoves' customers are such major corporations as Deutsche Telekom AG, Grohe AG, Leitz GmbH or the Deutsche Post AG.
The new shares are subject to staggered lock-up periods of 12 to 24 months. The entire executive management team of Intermoves/B.F.K. have pledged their long-term ties to the company.