- UET acquires 100% of ALBIS Technologies, Zürich, Switzerland
- Investment in Development for Business Area SYSTEMS
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces the acquisition of all outstanding shares of telecommunication systems supplier ALBIS Technologies AG, Zürich, Switzerland. ALBIS is an international an d leading supplier of Broadband Access Systems and Multimedia systems for TV and video. ALBIS has been incorporated in 2008 through a spin-off from Siemens Switzerland.
The acquisition is structured as a combined cash purchase in the amount of 1.0 mn EUR and share acquisition. Part of the price will be paid in 1.000.000 newly issued UET AG shares with a nominal value of EUR 1,00 through a capital increase of UET. After the transaction the existing ALBIS shareholders will hold a combined stake of 11% at UET.
ALBIS employs about 80 employees. The expected news sales contribution of ALBIS will be about 25.0 mn EUR for 2015. The products, customers and markets are a perfect complimentary fit to UET’s existing portfolio in the business area SYSTEMS. The presence in Europe will be strengthened and new markets in Europe and South America will be added.
With the new combined product portfolio the UET Group will offer a very comprehensive and powerful portfolio in the area of Carrier Ethernet, Multimedia, IP network migration and energy supply for telecommunication service providers. This will enable new and additional future growth.
The expertise and experience of ALBIS Engineering in Research and Development will also contribute to offer engineering services to customers in the business area MANUFACTURING.
The transaction is scheduled to be finalised by July 2015. Effective Date is January 1st, 2015.
UET United Electronic Technology AG
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Tel: + 49 (0) 6196 777755-0