TalkPool AG acquires Belgium based Technetix NV
This information is information that TalkPool is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 10.00 CET on 3 January, 2017.
As a next step in its growth strategy TalkPool AG acquires 100% of the shares in Belgium based Technetix NV from Technetix Group Ltd at a total price of 750.000 euro.
TalkPool AG today announces the acquisition of Technetix NV, based in Diegem, Belgium from Technetix Group Ltd, a leading global broadband cable network transmission technology provider. Technetix NV is offering repair and reversed engineering of telecom and IT equipment to telecom operators, internet- and cable TV service providers and IT companies.
Technetix NV and the repair service it offers has been part of Technetix for over a decade and has continued to enjoy success and gain new customers. After a strategic review, it was determined that the repair business would be better able to accelerate growth and serve its customers if it was part of company more focused on the renewable maintenance market like TalkPool. As part of the agreement, TalkPool has also entered into a partnership agreement with Technetix, whereby it will continue to utilise the services offered by TalkPool going forward.
“I am very happy to include the new entity in TalkPool Group and I’m convinced that the technical expertise and experience of the Technetix NV employees will add a lot of value to TalkPool’s Network Services business. Based on our global footprint we are in a position to develop the current business of Technetix NV further and TalkPool’s customers will gain from an extended and improved operation and maintenance offering. The recurring, value add niche business will add a new cornerstone to TalkPool’s business.”, says Erik Strömstedt, CEO of TalkPool.
Paul Broadhurst, CEO of Technetix Group, comments, “We are pleased that we have reached agreement with TalkPool and are confident that the business and all its employees will go from strength to strength under their ownership. We look forward to working with TalkPool over the coming years as we continue to make use of the expertise offered by this business.”
The total agreed purchase price is 4 times EBITDA or 750.000 euro. A first payment of 100.000 euro will be made at the completion date and 4 quarterly payments of 87.500 euro each will be executed in 2017. The last payment of maximum 300.000 euro is conditional on realized revenues in 2017.
For more information, please contact
Erik Strömstedt, CEO of TalkPool, email@example.com
Tel: +41 81 250 2020
TalkPool builds, maintains and improves telecommunication networks globally. Through its cutting-edge technical expertise, long experience and agile business model, TalkPool offers global telecom vendors and operators high-quality services on short notice no matter the location. Moreover, TalkPool is one of few companies with actual solutions and contracts in place in the exciting IoT-market. Remium Nordic AB is TalkPool’s Certified Advisor.