SoulLab to buy Strata Corps | EVE Online

SoulLab to buy Strata Corps

2006-03-21 - By Svarthol

NEW CALDARI. The Executive Board of Strata Corp is reviewing a take-over offer from its Gallente rival Soullier Laboratories.

The offer for 57% of SC's shares, at 45.37 per share, was formally presented last Thursday to the surprise of every market analyst in The Forge, after Strata Corp's success to regain market share previously lost to SoulLab. SC's acquisition was launched "as part of our expansion strategy in the Caldari transmitter market, and was being planned for quite some time", explained Mr Will Baze, CEO of Soullier Laboratories.

Strata Corp's Executive Board has not reached a decision about SoulLab's offer, yet analysts are confident it will be accepted. According to Mr. Baze, "SoulLab's board took long ago the decision to aggressively expand into the Caldari market, and buying one of the smaller Caldari high-tech companies was always a possibility to be considered. The success SC showed in the past few weeks speaks of a solid corporation and motivated personnel; absorbing SC into SoulLab will allow us to expand our distribution channels in The Forge." Mr. Baze declined to comment if other Caldari corporations had been considered as an alternative, and whether or not Strata Corp will be the first of many.

David Simmons, actual CEO of Strata Corp, is said to be "devastated" by the news, according to SC's CFO Jenny Civ. "David took this manoeuvre a bit too personal, I'm afraid", said Ms. Civ. "After successfully managing to pull SC out of the red and regain our lost market share from Gallente competition, it is a harsh blow to suddenly be confronted with the possibility of having your competitor as owner and President of the board."

Anaiolen Oruvei, Public Relations for SoulLab, confirmed previous rumours that production will still be centred in the Gallente Federation. "Our Strategic Plan calls for selling Strata Corp's Manufacture Division, as a means to finance part of the purchase, and keep importing the products directly from our Fed-based factories." According to Mr. Oruvei, a number of possible purchasers of the Manufacture Division have already been contacted.

The answer from Strata Corp's Board is expected to be officially announced during next week.