In February 2017, Gleason Corporation acquired KISSsoft AG. Subsequent to the transaction, a purchase price allocation (PPA) was conducted for accounting purposes.
Founded in 1865, Gleason Corporation is a global leader in the technology of gearing. Products and services include machinery for the production, finishing and testing of gears as well as a worldwide support system which provides cutting tools, workholding, replacement parts, field service, application development services, gear design and inspection software, training programs, engineering support and machine rebuild and upgrade services. The company is also a leader in the theory of gear design and in the application, testing and analysis of prototype and production gears. Customers include leading companies in the automotive, aerospace, marine, agricultural, construction equipment, industrial machinery and equipment, energy, and truck industries.
KISSsoft AG is a market leader in design and analysis software for all types of gears and power transmission solutions utilizing a modular calculation system for the design, optimization and analysis of all integrated elements. The scope of the software ranges from a single transmission element, such as a gear, up to the automatic sizing of complete gearboxes. On the basis of international calculation standards, KISSsoft® and KISSsys® design and analysis software provides engineers and designers with a wide variety of fields, with extensive optimization options for the entire sizing process of transmissions.
Oaklins' team in Switzerland advised Gleason during the post transaction phase and and produced a purchase price allocation (PPA) report in accordance with US GAAP ASC 805. The report contained the allocation of the consideration paid to all identifiable assets acquired and liabilities assumed.
Karl-Heinz Kübler, Managing Director Europe, Gleason Corporation, said: "Oaklins' team in Switzerland assisted us in identifying the required revaluations and carried out the valuation of intangible assets. Their services can be summed up as efficient, pragmatic and recommendable."
© 2018 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.