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News ReleaseJuly 5 , 2006 - Boston Corporate Finance Advises Telvent in Its Purchase of PB Farradyne BOSTON, MA and MADRID, SPAIN – Boston Corporate Finance, Inc. (BCF), a technology-focused investment banking firm, announced today that it has successfully advised Telvent GIT S.A. (NASDAQ: TLVT), the Global RealTime IT Company, in its acquisition of the business and related assets of PB Farradyne (Farradyne), a leading provider of Traffic Information Technology (IT) consulting and integration services in the United States. The combined company will operate as Telvent Farradyne. The acquisition of Farradyne accelerates Telvent’s strategic plan of substantially expanding its world-wide traffic and transportation business to capitalize on identified growth opportunities. Farradyne, the premier Intelligent Transportation Systems (ITS) company in the United States, brings a team of seasoned professionals serving a full range of public and private clients, including state departments of transportation, regional and local transportation agencies, and the Federal Highway Administration. The Company will be headquartered in the former Rockville, MD headquarters of Farradyne and will include 26 offices in 19 states and a combined staff of more than 220 professionals. Boston Corporate Finance and its M&A International, Inc. (MAI) partner firm, Closa Corporate Finance Advisors, worked closely with Telvent in closing this transaction. The BCF deal team used its cross-border expertise to work seamlessly with the Spanish acquiror and the American target in structuring this carve-out transaction and negotiating the terms of the deal. As a result of its work, BCF was able to support Telvent’s expansion into the United States while also strengthening the company’s global IT solutions for the Traffic and Transportation markets. According to Manuel Sánchez Ortega, Telvent’s chairman and chief executive officer, “We are very excited about completing this acquisition, Telvent’s most significant investment to date in a market we believe offers substantial long-term growth potential. Adding the Farradyne team, together with its strong portfolio of integrated product solutions, to our own traffic control and highway management systems significantly enhances our Traffic IT platform. We expect the company to be a key contributor to both the growth of our Traffic IT platform as well as the overall growth of Telvent.” “We believe that we will achieve considerable synergies across our complete Traffic IT portfolio. Our clients world-wide will be able to leverage Telvent’s experience across five continents and over 30 years in this sector, allowing them to implement the best and most ground-breaking system technology available.” “This sale is consistent with Parsons Brinckerhoff’s long-term strategy to emphasize strategic consulting and transportation planning services while maintaining complete impartiality,” said Thomas J. O’Neill, Chairman and Chief Executive Officer of Parsons Brinckerhoff Inc. “We look forward to collaborating with Telvent Farradyne in cases where clients can benefit from PB’s strategic and planning guidance and Telvent Farradyne’s ITS expertise. This is a win for Telvent, for PB and for the clients we serve.” Farradyne has been a leader in the ITS sector for over 20 years, with more than 100 systems deployed in North America, and has developed a number of award-winning projects, including the most advanced traveler information system deployed in the US – the TravInfo® system in the San Francisco Bay Area. This system provides travel information in real-time that assists thousands of drivers each day in optimizing their travel routes. Also, Farradyne has been working in the New York City metropolitan area since the early 1990s, pioneering ITS concepts such as the TRANSMIT toll tag tracking system that accurately measures travel times. In Palm Beach, Florida, Farradyne designed, installed, integrated and is now operating an advanced traffic management system using its MIST® software platform. “This is a critical step for our entrance into a market with a significant growth in toll roads, in which the most advanced toll systems are a ‘must’. Telvent invests approximately 4% of its revenues in R&D. This has allowed us to develop advanced tolling solutions. Telvent’s technology, in combination with the state-of-the-art products, solutions and technical expertise of Farradyne, is expected to position our Traffic IT business as a leader in this large market” concluded Mr. Sánchez Ortega. Combining Telvent’s existing Traffic business with Farradyne’s portfolio provides a diverse and complete range of products and services including tolling and pricing systems, urban, interurban traffic and traveler information systems, ITS consulting and design services, and operations and management services. Telvent (NASDAQ: TLVT), the Global RealTime IT Company, specializes in high value add solutions and services in four industry sectors (Energy, Traffic, Transport and Environment). Its technology allows high performing companies to make real-time business decisions using data acquisition, control, and advanced operational applications, providing secure actionable information delivery to the enterprise. Founded in 1885, Parsons Brinckerhoff provides strategic consulting, program management, planning, engineering and construction management services for transportation, power, buildings and environmental projects. Parsons Brinckerhoff employs 9,700 professionals and support staff in more than 150 offices worldwide. Headquartered in Westwood, MA, Boston Corporate Finance, Inc. (BCF) is a technology focused investment banking firm serving industry leading companies in the global middle market. The firm is unparalleled in its technology industry intelligence, deal experience and global reach. The transaction experts at BCF deliver an array of investment banking services with a focus on mergers and acquisitions and private placements of debt and equity. For more information, please visit www.bostoncf.com or call (781) 320-3200. About Closa Corporate Finance Advisors Established in 1987, Closa Corporate Finance Advisors (Closa) is Spain’s leading specialized advisor on mergers, acquisitions, fundraising and other corporate finance transactions. Its clients include successful family-owned and exchange-listed businesses, private equity firms, public and private financial institutions as well as state-owned entities. Closa is known for its execution skills, expertise, speed and discretion. For more information, please visit www.closa.com. About M&A International, Inc. M&A International, Inc. (MAI) offers the unparalleled resources of 41 independently owned merger and acquisition specialists and investment banking firms in 35 countries in the Americas, Europe, Asia-Pacific, the Near East and South Africa. Member firms work seamlessly with clients to originate and execute domestic and cross-border M&A deals in the middle market. For more information, please visit www.mergers.net.
Boston Corporate Finance, Inc. Tel: (781) 320-3200 View this press release in PDF format.
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