DGAP-News: KATEK SE
/ Key word(s): Mergers & Acquisitions/Takeover
KATEK SE: Acquisition of SigmaPoint successfully completed - from now on KATEK with strong presence on the North American continent
Munich, August 17, 2022 - The listed KATEK SE successfully completes the acquisition of SigmaPoint Technologies Inc. with the closing of August 16, 2022. This means that the Canadian provider of high-value electronics is now 100 percent owned by the KATEK Group. With the acquisition, the number three European electronics service provider currently has 20 subsidiaries and now maintains a presence on the North American continent in addition to Europe and Asia.
SigmaPoint is one of the leading electronics service providers in Canada with around 280 employees. In addition to the medical, industrial controls, embedded electronics and IoT sectors, SigmaPoint is developing new markets for KATEK in the homeland security and defense sector. The company says it plans to exceed $100 million in annual revenue in the medium term and is currently benefiting greatly from the reshoring trend in North America, driven by current supply chain disruptions due to the pandemic and economic and geopolitical tensions. Already, SigmaPoint's largest customer in North America is also one of KATEK's top 5 customers in Europe. Among other things, this will lead to significant advantages for both companies in the procurement market.
"SigmaPoint is extremely excited and looking forward to adding to KATEK’s global reach in North America. The added capabilities and our lean enterprise culture will be a tremendous advantage to support the reshoring trend", says Dan Bergeron, CEO of SigmaPoint.
"Only last week, KATEK was able to raise its revenue forecast for the full year 2022 to more than EUR 615 million as part of its half-year reporting. The first-time consolidation results in additional upside potential of around EUR 20 million," explains Johannes Fues, CFO of KATEK SE.
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/.
KATEK Investor Relations
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17.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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1422731 17.08.2022 CET/CEST