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© 2007 Paragon
Advisory Pty Ltd
KEE Takeover
Another South Australian technology company has been taken over by a global company.
Agricultural electronics firm KEE Technologies, based at Mawson Lakes, has been acquired by U.S. Topcon Positioning Systems for an estimated $15 million.
It follows previous takeovers of Adelaide high-tech companies such as Ratbag Games and Clipsal by overseas firms. The deal would open world distribution networks to KEE and secure the future of the South Australian operations, chief executive Les Mann said yesterday.
“It’s a win-win situation for both companies,” he said.
“The global footprints of the two companies are extremely compatible.”
He said KEE’s research and development, particularly of the advanced Zynx X20 Unit, was assured by the role precise positioning technology was playing in “changing the global face of agriculture”. “It’s not enough to just plant and harvest crops,” he said, given the pressing needs of improving productivity and environmental issues.
KEE has grown to about 75 positions, after founder Kym Eldridge launched the business in Clare 25 years ago before moving to Wingfield, then Mawson Lakes.
Its expansion has been helped in recent years by SA venture capital investor Paragon Equity.
Major shareholder Mr Eldridge, who remains with KEE as chief technology officer, said the products had succeeded because they saved farmers time, money and resources.
The uptake of the technology also has been aided by rapid inroads made by global positioning satellites in agriculture. The U.S. subsidiary of Tokyo based Topcon Corporation is part of a $1.3 billion-a-year business with more than 4000 workers worldwide.
Topcon Corp is listed on the Tokyo Stock Exchange. Its core focus is on optical and medical equipment, specialising in lenses.
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