Printer Friendly

Wonderware sets joint venture with ICT to create direct sales company in Germany.

IRVINE, Calif.--(BUSINESS WIRE)--Feb. 10, 1995--Wonderware Corp. (NASDAQ:WNDR) Friday announced the creation of a joint venture company with its German distributor, ICT, based in Munich, for direct sales of Wonderware's industrial automation software within Germany.

Under the agreement, Wonderware acquires approximately 20 percent of the new Munich-based company, called ICT-Wonderware Gesellschaft fur industrielle Softwaresysteme GmbH, with an option to buy the remaining 80 percent over two years. Dr. Walter Immler, founder and president of ICT, will serve as president of ICT-Wonderware. Norman R. Farquhar, Wonderware senior vice president and chief financial officer, will serve on the new company's board of directors.

"This new venture is a win/win situation for both companies because it provides Wonderware with a way to better serve the large and growing German market and it rewards ICT for the tremendous job they've done in developing that market," Farquhar said. "ICT has been a superstar among our distributor organization and, in fact, is the largest distributor in our worldwide network. We feel this joint venture could well serve as the benchmark for discussions with other large distributors in other countries."

"The German market is somewhat unusual because major industrial companies prefer to deal directly with a supplier, rather than work through distributors," Dr. Immler added. "Although we have enjoyed great sales success in Germany, through extensive personal and business contacts, we know that eventually this would not suffice for such a large market. On Wonderware's part they have made a genuine effort to protect our interests, unlike so many companies that typically launch direct sales programs overseas without any compensation to their former distributors."

ICT will continue its distribution operations for sales of programmable logic controllers and other hardware products in Germany.

Wonderware is a supplier of Windows-based software for the industrial automation marketplace. Founded in 1987, the company has headquarters in Irvine and has seven regional offices in the United States for distributor support. European operations are based in Amsterdam, The Netherlands. Asian operations have headquarters in Singapore. The company reported record sales of $35.7 million and net income of $7.5 million in 1994.

For more information, contact Don Allen, director of public relations, Wonderware Corp., 100 Technology Dr., Irvine, Calif., 92718. Telephone: 714/453-6652. Fax: 714/453-6693.

CONTACT: Wonderware, Irvine

Don Allen, 714/453-6652
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 10, 1995
Previous Article:Wiz receives order for 17,424 discs from large Canadian retailer.

Related Articles
Wonderware reports record results for first quarter 1995 revenues, net income.
Mercedes-Benz AG selects Wonderware InTouch(tm) as MMI Standard for refurbished Rastatt Automobile Plant.
Wonderware signs letter of intent to acquire German distributor.
Wonderware Completes Acquisition of German Distributor; Takes One-Time Charge Against Fourth Quarter Results.
Wonderware Opens New Offices in England & Italy To Enhance Support for European Distributors.
Wonderware & VenturCom Launch Partnership Program To Develop Windows CE Embedded Systems for Factory Automation.
'Explosive structuring' gives delicate tool textures. (Keeping Up With: Tooling).
Invensys' Wonderware business unit introduces SI Direct DA Server to connect to Siemens S7 PLCs; ArchestrA technology simplifies Device Integration.
Fujitsu and Advantest to Establish Joint Venture to Create Semiconductor Prototypes Using Electron Beam Direct Lithography.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters