Kontron AG strengthens its commitment to the IoT market and announces the acquisition of around 60% of the shares in the listed Katek Group. The buyer is the wholly-owned German subsidiary Kontron Acquisition, which has secured the shares from the previous Katek majority shareholder Primepulse SE.
The purchase price per share is €15.00 for the total of 8,587,138 shares. Subject to the conditions precedent (antitrust law), the transaction is expected to be completed by March 2024. According to its CEO Hannes Niederhauser, Kontron expects the takeover to strengthen its own offering for renewable 'green' energy solutions and the aerospace sector.
The electronics service provider Katek offers products in the field of solar energy and emobility and employs more than 3,200 people at its locations in Europe, Asia and North America. For the 2023 financial year, Katek expects to generate revenue of over € 750 million. Control electronics for photovoltaic systems and intelligent charging solutions for electric vehicles are an important part of the product range.
According to Kontron, the aim of the acquisition is to expand renewable energies and other industries. To this end, Katek's products are to be upgraded with Kontron's software expertise and IoT connectivity. An improvement in Katek's gross margin of around 5% is expected in the medium term. Based on the K-OS operating system, the products will have firewall functionality, can be connected to complex grids and can be maintained remotely. The merger adds the 'GreenTec' division to Kontron's 'Software + Solutions' segment.
www.kontron.com
www.katek-group.de
