Smarteq signs contract with Kathrein to expand business in strategic market
Smarteq has signed a strategic contract with Kathrein, a world-leading communication technology supplier. The agreement gives Smarteq exclusive marketing and reseller rights to Kathrein’s products targeted at the European Automotive aftermarket, a key focus area for Smarteq. The contract brings an estimated SEK 15-20 million of sales revenue on an annual basis, starting at the takeover point in May 2015.
The contract enables Smarteq to offer Kathrein products, together with its own current and future products, through all available channels for the designated market segment, including Kathrein’s reseller network and affiliates in 15 European countries. To serve new customers related to the partnership, Smarteq will provide dedicated sales resources for Europe.
”Being selected to represent Kathrein may be the ultimate seal of approval in our industry, a confirmation of our standing as a quality antenna supplier to global markets,” says Johan Hårdén, CEO of Smarteq. ”Even more importantly, this agreement adds significant business opportunities for Smarteq, with immediate results for our sales and customer acquisition.”
The Automotive aftermarket agreement will add more than 150 new customers for Smarteq across Europe, bringing an estimated SEK 15-20 million of sales revenue on an annual basis, starting at the takeover point in May 2015. Smarteq expects the Kathrein business relation to present even greater opportunities in the long term.
“Our agreement with Kathrein is strategically important for Smarteq, as we will benefit both from a broader technology and product offering and a greatly expanded sales and distribution network. This certainly adds to our credibility in our key markets, including heavy duty vehicles,” adds Johan Hårdén.
“We are much pleased to join forces with Smarteq, which we know as a high quality antenna supplier in this market segment,” says Michael Heise, CEO of Kathrein Automotive. “Through this deal we ensure that our established aftermarket business with customer relationships throughout Europe is transferred to a very capable market player.”
Kathrein is one of the pioneers in antenna solutions for cars. The company effectively shaped this market with technical innovations in the past, and enabled the introduction of new in-car communication and entertainment services. The product range includes automotive antenna systems for mobile communication services of all global standards, positioning systems for satellite signal processing and digital radio services, as well as digital and analogue signal processing for terrestrial broadcast services.
For more information, please contact:
Smarteq
Johan Hårdén,CEO
Tel. +46 733 859 219
E-mail: johan.harden@smarteq.com
Kathrein
Gisela Bauer-Stieber
Tel. +49 8031 184 826
E-mail: gisela.bauer-stieber@kathrein.de
About Smarteq
Smarteq's business idea is to sell and develop antenna systems for improved access, efficiency and security in a wireless world. The priority market segments are Automotive, M2M and Consumer. The business is focused on selling and developing antenna products for OEM and the aftermarket. Smarteq has its own resources for product development, sourcing and sales. Production is mainly outsourced to external partners in Asia and Europe. Marketing is effected via established sales channels globally. Smarteq's class B stock is traded on NASDAQ OMX First North with Remium Nordic as Certified Adviser.
www.smarteq.com.
About Kathrein
Kathrein is a leading international specialist for reliable, high-quality communication technologies. The company is an innovation and technology leader in today’s connected world. Its products and solutions enable people all over the world to communicate, access information and use media, whether at home, at the office or on the road. The business covers a broad spectrum: from mobile communication, signal enhancement and data transmission in buildings, to fibre optic and cable networks and satellite reception technology, to radio and TV transmission and transmission and reception systems in vehicles. As a hidden champion and family-owned enterprise, Kathrein has been working on the technologies of tomorrow since 1919. The business takes pride in its dedicated employees and passion for customers and quality. Find out more about Kathrein at www.kathrein.com.
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