Ravisent Completes Acquisition of eMation
Malvern, Pa. - Ravisent Technologies announced December 10 the completion of its previously announced acquisition of eMation, Ltd. for approximately 8 million shares of common stock.
Malvern, Pa. - Ravisent Technologies announced December 10 the completion of its previously announced acquisition of eMation, Ltd. for approximately 8 million shares of common stock. RAVISENT also assumed approximately $5 million of eMation net debt.
'This acquisition provides the opportunity to dramatically expand our business and create significant shareholder value,' stated Ravisent's chairman & ceo, Robert M. Russell, Jr. 'The eMation acquisition leads the way for the company to enter the Device Relationship Management (DRM) market with innovative products that help businesses all over the world use real-time information to improve their operations, products, customer relationships, and profit margins. The transformative power of DRM is undeniable and we believe eMation has the momentum and proven solutions to form the foundation of a lasting business within a large, ready market.'
'Together we are uniquely positioned to take full advantage of this market opportunity, with the leadership team, technology, talent, intellectual property, and corporate resources in place,' said Dale E. Calder, president and ceo of eMation. 'Our momentum continues to increase and the combined strength of the two companies will allow us to expand product and service offerings and accelerate our adoption by new customers and markets.'
The eMation DRM(TM) Device Relationship Management system is a distributed software solution that lets businesses use the Internet to remotely monitor, manage, and service devices and systems of all types. Such leading companies as Varian Medical Systems, Toshiba, Scitex, PRI Automation, SHINKAWA, Beckman Coulter, and Air Liquide have adopted the technology across multiple industries.
Ravisent is a software, services, and intellectual property licensing company providing software solutions and technology to OEMs and Enterprises. The company serves Global 2000 companies worldwide in multiple markets including industrial and building automation, technology, medical instrumentation, office, and semiconductor equipment.