Addtech acquires Diamond Point International (Europe) Ltd
Addtech Components, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Diamond Point International (Europe) Ltd.
Diamond Point develops, manufactures and markets innovative embedded computer systems for demanding OEM-applications. The customers are mostly represented within defense and railway industry in the UK-market.
Diamond Point will very effectively complement Addtech's current operations within Scandinavia in the business area Addtech Components through the subsidiary Recab AB. Diamond Point will work closely together with Recab where both companies will benefit from each other's skills, solutions and market presence. The company has 9 employees and sales of around GBP 3,5 million.
The closing takes effect immediately and is expected to have a marginally positive effect on Addtech’s earnings per share during the current financial year.
Stockholm, July 3, 2018
Addtech AB (publ)
For further information, contact
Johan Sjö, President, Addtech AB, +46 8 470 49 00
Patrik Klerck, Business area manager, Addtech Components, +46 708 641 517