DGAP-News: Gigaset AG / Key word(s): Acquisition Gigaset AG: Gigaset AG takes over Skymaster 24.02.2011 / 16:20 --------------------------------------------------------------------- Munich/Hamburg, February 24, 2011 - Gigaset AG in Munich has acquired 100% in SM Electronic GmbH (Hamburg), better known under the brand name Skymaster. SM Electronic, a strongly growing enterprise, specialises in the purchase and distribution of telecommunications and multimedia equipment produced in Asia. Apart from the brand Skymaster which has been established in retail, consumer and building markets for 20 years, the company also distributes receivers and set top boxes, as well as other multimedia and telecommunications accessories of the brand Telefunken under license. In addition SM Electronic supplies Grundig television reception equipment exclusively to the specialised trade. In Germany SM Electronic conducts product development, design and software conception. 150 employees in Germany and Asia generated revenues of EUR 26.3 million in 2010, a significant increase compared to the previous year. SM Electronic is free of financial liabilities. The purchase price lies in the mid six-digit Euro range, with Gigaset also taking over shareholder loans to the value of approximately EUR 2 million in addition to the company shares. A 51% share in SM Electronic was sold to the SM Electronic management mid 2010 in the course of a portfolio adjustment by Arques Industries AG, now renamed Gigaset AG. The complete sale was to take place in the third quarter 2010. Due to the change in management and the realignment of the Arques Group to the telecommunications and multimedia industry, and to related equipment under the brand name Gigaset AG, these plans were however rejected. 'With its access to Asian suppliers and its locations in Hamburg and Asia, Skymaster offers large strategic synergy potential for Gigaset Communications GmbH and thus for us. Skymaster with its outstanding Asian market access supplements the logistics and procurement network of Gigaset in an ideal way and thereby closes a long lamented gap at the European market leader for DECT telephony. Therefore we decided to buy back the shares', said Maik Brockmann of the Gigaset AG executive board. In particular the Skymaster location in Hamburg opens up a new strategic dimension in supply chain management for Gigaset. The mutual utilisation of the ultramodern logistics centres in Hamburg offers the company significant savings potential. SM Electronic expects an increase in turnover of 13% in 2011 alone. Synergies have not been taken into consideration. Apart from opening up the Asian market for Gigaset and the mutual access to the logistics network, there are two further important points central to the future co-operation of the two companies: With the association between Skymaster and Gigaset common point of sale marketing teams are now operating for both enterprises which leads to better coordination and optimisation of product presentation in the trade. By means of the acquisition, Gigaset AG joins two excellent departments for research, product design and development in Germany and their established brands together with 20 years of experience of the SM Electronic purchase department. 'A very important step in the new strategy of our company. We hereby attain a powerful centre for excellence in radio and multimedia technology whose expertise is optimally aligned to the future growth segments of telecommunications and multimedia', Brockmann explained. The transaction is subject to the approval of the cartel authorities. About Gigaset AG: Gigaset AG, Munich, is a worldwide operating equity investment company focusing on telecommunication and accessories. Gigaset AG is the parent company of the Gigaset Group, the leading producer of cordless phones worldwide and the market leader in Europe for DECT phones. The shares of Gigaset AG (ARQUES Industries AG) are traded in the Prime Standard of the Frankfurt Stock Exchange. Symbol: AQU, ISIN: DE0005156004. Contact: Gigaset AG Investor Relations Email: info@arques.de Tel: 089/ 25 55 00 - 0 End of Corporate News --------------------------------------------------------------------- 24.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Gigaset AG Arnulf Office Park - ArnulfstraÃe 37-39 80636 München Deutschland Phone: +49 89/255500-0 Fax: +49 89/255500-200 E-mail: klaus.franke@arques.de Internet: www.arques.de ISIN: DE0005156004 WKN: 515600 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 113422 24.02.2011
DGAP-News: Gigaset AG: Gigaset AG takes over Skymaster
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