annual Report 2009 - STRATEC Biomedical AG

Report of the board of Management
Report of the supervisory board
THE share
Corporate Governance
Group Management report
Consolidated financial statements
Service
The shares granted have been measured at their market price on the acquisition date. The conditional purchase price
component (u 230 thousand) is dependent on the achievement of specified sales targets, as well as on the achievement of
specified milestones in five research and development projects at Invitek. The performance date set for the achievement
of these targets was December 31, 2009. Accordingly, the disclosure of a range of conditional events has been foregone,
as these could be reliably determined at the balance sheet date and there was no uncertainty in this respect.
The Invitek acquisition has been recognized in the cash flow statement for the 2009 financial year by recognition of an
amount of u 1,738 thousand in the cash flow from investment activities. This corresponds to the purchase price paid
(u 1,745 thousand), less the cash and cash equivalents taken over at Invitek (u 7 thousand).
The fair values recognized upon acquisition of the assets and liabilities taken over from Invitek and their carrying amounts
directly before the business combination have been presented in the following table:
in v thousand
Fair value upon
acquisition
Carrying amounts
directly before
business combination
Current assets
Cash and cash equivalents 7 7
Trade receivables and other receivables 413 413
Inventories 362 305
782 725
Non-current assets
Intangible assets 3,861 3
of which goodwill 1,488 0
of which technology 1,534 0
of which customer relationships 407 0
of which current R&D projects 432 0
Property, plant and equipment 244 244
Deferred tax assets 32 0
Financial assets 120 120
4,257 367
Total assets 5,039 1,092
Current debt
Current financial liabilities 211 211
Trade payables and other liabilities 302 302
513 513
Non-current debt
Deferred tax liabilities 732 0
Non-current financial liabilities 497 391
1,229 391
Total debt 1,742 904
Goodwill chiefly represents the synergies with the automation expertise already available at STRATEC / Robion expected
to be generated due to Invitek’s scientific competence in the field of nucleic acid purification. Furthermore, due to the
extended customer base and integration and increased professionalism of the sales network, goodwill also reflects the
overall growth opportunities now available in the nucleic acid purification business field.
stratec Annual Report 2009
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