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KATEK SE: KATEK and SigmaPoint sign share purchase agreement

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DGAP-News: KATEK SE / Key word(s): Mergers & Acquisitions
KATEK SE: KATEK and SigmaPoint sign share purchase agreement
30.05.2022 / 08:59
The issuer is solely responsible for the content of this announcement.

KATEK and SigmaPoint sign share purchase agreement

KATEK and the shareholders of SigmaPoint, one of Canada's leading suppliers of high-value electronics, have signed a share purchase agreement to acquire all shares of SigmaPoint. This expands KATEK's presence in the industry to include Homeland Security & Defense and strengthens KATEK's offering to European customers in North America as well.

Munich, May 30, 2022 - KATEK SE has signed a purchase agreement with the shareholders of SigmaPoint Technologies Inc. in Cornwall, Canada, to acquire all shares in the Canadian company. The negotiation of the purchase agreement, which is based on the exclusive term sheet signed in April, was completed in record time and demonstrates the cultural fit between the two companies. The purchase agreement includes the acquisition of 100% of the shares at a fixed price upon closing and an earnout provision for the years 2023 and 2024. The transaction is subject to the necessary regulatory approvals, closing is expected soon.

"SigmaPoint, with its outstanding lean manufacturing expertise in the area of series production of high-value electronics, enriches the production network strategy of the other KATEK entities and, in return, benefits from KATEK's excellent supply chain management, which is mastering the supply crisis very successfully," says Jürgen Lauter, Group Director Strategic Projects at KATEK SE.

In addition to the existing sectors of Medical, Industrial Controls, Embedded Electronics and IoT, the acquisition expands new markets for KATEK in the area of Homeland Security & Defense and supports KATEK's strategy of developing further geographic markets for high-value electronics in addition to its strong presence in Europe. Furthermore, SigmaPoint is currently benefiting from the strong reshoring trend in North America, which is further accelerated by the current economic and geopolitical tensions.

KATEK, currently among the top 3 European electronics service providers, fulfills the wish of its European customers for a location on the North American continent. Rainer Koppitz, CEO and Co-Founder of KATEK SE: "SigmaPoint's largest customer in North America is also one of KATEK's top 5 customers in Europe and has already announced its intention to significantly expand its business with SigmaPoint."

Rainer Koppitz emphasizes that the very good cooperation during the due diligence process on both sides reinforced the impression of a very good match of corporate culture and values. This significantly facilitates the realization of large existing synergies in the areas of sales, supply chain and lean manufacturing. Dan Bergeron, CEO of SigmaPoint, will continue to run the entity with his dedicated management team.

Contact

KATEK Investor Relations
Ramona Kasper
Group Head Marketing & Communications
ir@katek-group.com
+ 49 160 970 88 676

About KATEK
The KATEK Group is a leading European electronics company offering hardware and software development, prototyping and manufacturing, and related services in the market for high-end electronics or electronics services. The KATEK Group currently employs over 2,800 employees* in Germany and Eastern Europe. CEO is Rainer Koppitz and CFO is Dr. Johannes Fues. For more information about KATEK, please visit https://katek-group.com/.

Statements contained herein may constitute ”forward-looking statements“. Forward-looking statements are identified by words such as ”may“, ”will“, ”should“, ”plans“, ”expects“, ”anticipates“, ”estimates“, ”believes“, ”intends“, ”has in mind“, ”targets“ or their negative form or equivalent variations and comparable terminology.

Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of utilization, performance or achievements of the Group or the industries in which it operates to be materially different from those expressed or implied by such statements. Undue reliance should not be placed on forward-looking statements. The Group will not update or revise any forward-looking statements contained herein as a result of new information, future events or otherwise.


30.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

KATEK SE

Promenadeplatz 12

80333 München

Germany

Internet:

www.katek-group.com

ISIN:

DE000A2TSQH7

WKN:

A2TSQH

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1363553


 

End of News

DGAP News Service

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