PSI Software : Completes Acquisition of the Network Control Software Segment PRINS of BTC AG

[Attachment]

At the signing of the contract (LTR): Dr. Jörg Ritter (CEO BTC AG), Dirk Thole (CEO BTC AG), Dr. Harald Schrimpf (CEO PSI Software AG), Harald Fuchs (CFO PSI Software AG). Photo: PSI

Berlin, 11 December 2018 - PSI Software AG, as previously announced on 21 November 2018, has concluded the takeover of the Network Control Software Segment PRINS of BTC Business Technology Consulting AG. The binding contract foresees the acquisition in the framework of an asset deal effective 1 January 2019. In addition, agreements for further cooperations and risk reduction were concluded.

PSI is taking over the network software segment with 160 employees and the products PRINS (SCADA, DMS, cross-linking) and GRID Agent sub-network and wind farm controller (feed management for EEG plants and sub-networks). Both products will continue to be supported and merged with the PSI products PSIcontrol (network control, EMS, ADMS) and PSIingo (Intelligent Grid Operator).

Other areas of BTC are not part of the sale. With this transaction BTC and PSI want to realize a good solution for customers and employees. After a successful transaction, both companies want to establish a partnership. With the support of PSI, BTC will offer infrastructure and application management for PSI network control software products in the future.

The PRINS segment will be integrated into PSI as the INFRA market division for integrated municipal utilities with their own power generation and often also cross-connected (gas, heat, water), distributed power generation (especially wind and solar parks), energy storage, combined heat, power and cooling units as well as energy, storage and supply infrastructures in industry (chemicals, steel, non-ferrous metals).

PSI will begin training and deploying 20 PRINS employees in PSI projects as of January, and an additional 40 employees are scheduled to be assigned during the course of the year. With a record order intake of 201 million euros (as of 30 November 2018), PSI has very good prerequisites for the quick and successful integration of the new highly qualified employees. With the merger, the PSI network control software team will grow to almost 900 highly qualified employees. PSI is thus further expanding its position as one of the leading European providers of network control systems.

Based on its own software products, the PSI Group develops and integrates complete solutions for optimizing the flow of energy and materials for utilities (energy networks, energy trading, public transport) and industry (mining, metals production, automotive, mechanical engineering, logistics). PSI was founded in 1969 and employs more than 1,750 persons worldwide.