Service-oriented - Die Schweizerische Post

144 Annual Report | Financial Report | Financial statements of Swiss Post Group
33 Changes to the scope of consolidation
Investments in the reporting year
In February, Swiss Post acquired Forrest Solutions Inc. in the USA and subsequently renamed it MailSource Inc.
The acquisition is based on a payment of 27 million US dollars, plus a number of deferred payments towards
the purchase price calculated on the basis of the business plan that have already been accounted for in
the 2006 financial statements. The amount of these payments will depend on the company s performance.
The acquisition has resulted in a positive effect on Group sales of around 62 million francs (see the following
page under Assets and liabilities arising from acquisitions).
On 21 February 2006, Swiss Post acquired 100 percent of the shares in oneReason AG in Kloten. Immediately
after the acquisition, the company was merged with MailSource AG. Both the purchase price and the effect on
the results of operations are insignificant for the Group.
On 1 March 2006, Swiss Post International AG acquired MDS AG, based in Kriens. Both the purchase price
and the effect on the results of operations are insignificant for the Group.
On 1 June 2006, a 100 percent interest was acquired in SPI Singapore. As part of the transaction, two
holdings were also purchased in SPI Malaysia in Kuala Lumpur (65 percent) and SPI Hong Kong (60 percent).
Both the purchase price and the effect on the results of operations are insignificant for the Group.
On 1 July 2006, Swiss Post International (SPI) acquired Mobile Imaging GmbH in Gottlieben in the canton
of Thurgau and at the same time merged it with SPI Management AG. By making this acquisition, SPI has
extended its offering of online postcards. It is now offering a platform that can be easily and quickly integrated
into companies and organizations own websites. Customers will thus be able to send online postcards from
a number of websites, which SPI will then print and deliver to the intended recipients by post. Both the
purchase price and the effect on the results of operations are insignificant for the Group.
On 1 September 2006, Swiss Post acquired a majority stake in the GHP Group, which is domiciled in Bamberg,
Germany.
The acquisition is based on a payment of 3 million euros, plus a number of deferred payments towards the
purchase price calculated on the basis of the business plan that have already been accounted for in the 2006
financial statements. The amount of these payments will depend on the performance of the GHP Group,
which has contributed around 125 million francs in revenue since joining Swiss Post s scope of consolidation
(1.9.2006). In 2006, the acquiree generated annual revenues of roughly 350 million francs.
On 1 November 2006, Swiss Post International (UK) Ltd. acquired GATS UK Ltd.
On 27 December 2006, Priority Post Inc absorbed Swiss Post International (USA) Inc.
At the end of 2006, Swiss Post Deutschland GmbH & Co. KG was renamed Swiss Post Deutschland Holding
GmbH. The old Swiss Post Deutschland Holding GmbH and Swiss Post Deutschland Verwaltungs GmbH were
merged with the new Swiss Post Deutschland Holding GmbH.
Investments in 2005
Swiss Post acquired the following investments in 2005.
On 23 June 2005, Swiss Post exercised a call option to acquire a 25 percent stake in Liechtensteinische Post
AG. The company is accounted for as an associate.
On 1 July 2005, Swiss Post acquired 100 percent of the shares in SwissSign AG, based in Zurich. The company
is active mainly in developing a legally compliant encoding technology and does not yet generate a significant
amount of revenue.