DGAP-News: Gigaset AG / Key word(s): Acquisition
Gigaset AG: Gigaset AG takes over Skymaster
24.02.2011 / 16:20
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Munich/Hamburg, February 24, 2011 - Gigaset AG in Munich has acquired 100%
in SM Electronic GmbH (Hamburg), better known under the brand name
Skymaster. SM Electronic, a strongly growing enterprise, specialises in the
purchase and distribution of telecommunications and multimedia equipment
produced in Asia. Apart from the brand Skymaster which has been established
in retail, consumer and building markets for 20 years, the company also
distributes receivers and set top boxes, as well as other multimedia and
telecommunications accessories of the brand Telefunken under license. In
addition SM Electronic supplies Grundig television reception equipment
exclusively to the specialised trade. In Germany SM Electronic conducts
product development, design and software conception. 150 employees in
Germany and Asia generated revenues of EUR 26.3 million in 2010, a
significant increase compared to the previous year.
SM Electronic is free of financial liabilities. The purchase price lies in
the mid six-digit Euro range, with Gigaset also taking over shareholder
loans to the value of approximately EUR 2 million in addition to the
company shares. A 51% share in SM Electronic was sold to the SM Electronic
management mid 2010 in the course of a portfolio adjustment by Arques
Industries AG, now renamed Gigaset AG. The complete sale was to take place
in the third quarter 2010. Due to the change in management and the
realignment of the Arques Group to the telecommunications and multimedia
industry, and to related equipment under the brand name Gigaset AG, these
plans were however rejected.
'With its access to Asian suppliers and its locations in Hamburg and Asia,
Skymaster offers large strategic synergy potential for Gigaset
Communications GmbH and thus for us. Skymaster with its outstanding Asian
market access supplements the logistics and procurement network of Gigaset
in an ideal way and thereby closes a long lamented gap at the European
market leader for DECT telephony. Therefore we decided to buy back the
shares', said Maik Brockmann of the Gigaset AG executive board. In
particular the Skymaster location in Hamburg opens up a new strategic
dimension in supply chain management for Gigaset. The mutual utilisation of
the ultramodern logistics centres in Hamburg offers the company significant
savings potential. SM Electronic expects an increase in turnover of 13% in
2011 alone. Synergies have not been taken into consideration.
Apart from opening up the Asian market for Gigaset and the mutual access to
the logistics network, there are two further important points central to
the future co-operation of the two companies: With the association between
Skymaster and Gigaset common point of sale marketing teams are now
operating for both enterprises which leads to better coordination and
optimisation of product presentation in the trade. By means of the
acquisition, Gigaset AG joins two excellent departments for research,
product design and development in Germany and their established brands
together with 20 years of experience of the SM Electronic purchase
department. 'A very important step in the new strategy of our company. We
hereby attain a powerful centre for excellence in radio and multimedia
technology whose expertise is optimally aligned to the future growth
segments of telecommunications and multimedia', Brockmann explained. The
transaction is subject to the approval of the cartel authorities.
About Gigaset AG: Gigaset AG, Munich, is a worldwide operating equity
investment company focusing on telecommunication and accessories. Gigaset
AG is the parent company of the Gigaset Group, the leading producer of
cordless phones worldwide and the market leader in Europe for DECT phones.
The shares of Gigaset AG (ARQUES Industries AG) are traded in the Prime
Standard of the Frankfurt Stock Exchange. Symbol: AQU, ISIN: DE0005156004.
Contact:
Gigaset AG
Investor Relations
Email: info@arques.de
Tel: 089/ 25 55 00 - 0
End of Corporate News
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24.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Gigaset AG
Arnulf Office Park - ArnulfstraÃe 37-39
80636 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: klaus.franke@arques.de
Internet: www.arques.de
ISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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113422 24.02.2011
DGAP-News: Gigaset AG: Gigaset AG takes over Skymaster
| Source: EQS Group AG