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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
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Publication:Business Wire
Date:Feb 10, 1995
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