AKKA Technologies - Entry into exclusive negotiations for the acquisition of Gigatronik

Published on 01/10/2017, 12:40 PM

AKKA Technologies announces that it has entered into exclusive negotiations with the shareholders of GIGATRONIK with a view to the company’s acquisition.

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When it acquired Mbtech, the Group indicated its aim of making Germany the second pillar of its international expansion alongside France. In line with this medium-term objective, AKKA Technologies is pursuing its strategy of increasing value-added expertise and diversifying in Germany’s three high-potential industrial areas, namely Northern, Southwest and Southeast Germany.

This strategy has been a success in recent quarters, with rapid organic diversification combined with the recent acquisitions of Auronik and Erlkönig, companies specialising in high value-added activities in the fields of mobility, infotainment and navigation in the automotive sector. It will be further strengthened by GIGATRONIK’s acquisition.

With its unique know-how in the Internet of Things, GIGATRONIK registered revenue above €100 million in German GAAP in 2015, with strong growth and margins in line with the Group’s. The acquisition, if confirmed, will be performed by the AKKA Technologies’ Group. It will reinforce the Group’s technological know-how and its high value added positioning in the automotive sector in the fields of mobility, connectivity, infotainment, autonomous driving and embedded solutions. GIGATRONIK will therefore enable AKKA Technologies to accelerate its expansion in Germany, notably with the main automotive manufacturers and suppliers Audi, BMW, Daimler, Ford, Porsche and Volkswagen.

Upcoming events:

Q4 2016 revenue: Thursday 2 February 2017

Full-year 2016 results: Tuesday 21 March 2017

About GIGATRONIK

GIGATRONIK is an independent Company founded in 2001. With 1,000 highly skilled employees who generated annual revenue above €100 million in German GAAP in 2015, mainly in Germany, Austria and Switzerland. Is has a strong know how in all technical topics in the connected world and embedded solutions. In the competence fields of IT and Electronics, GIGATRONIK is offering intelligent solutions for customers of the automotive industry and general industry branches. Its customers include well-known manufacturers and suppliers to the automotive industry and technology sectors; eight of the world's largest car makers, seven of the DAX 30 companies and 21 global market leaders.

About AKKA Technologies

“The best way to predict the future is to invent it. Let’s share our passion for technology.”

AKKA Technologies is a European Engineering and Technology Consulting Group that supports large manufacturing and tertiary services companies, seeing their projects through from the initial studies and R&D to large-scale production. AKKA Technologies is an expert in various complementary business lines, and brings real value added to customers in sectors including aerospace, automotive, space/defence, cybersecurity, consumer electronics, telecommunications, chemicals, pharmaceuticals, steel, energy, rail, marine and service industries.

Leader in the automotive and aerospace sectors in Germany and France, AKKA Technologies works worldwide on projects at the forefront of technology thanks to the mobility of its teams and its international positioning.

The AKKA Technologies Group has more than 13,000 employees and operates in 20 countries, namely Belgium, Canada, China, Czech Republic, France, Germany, Hungary, India, Italy, Morocco, Netherlands, Romania, Russia, Spain, Switzerland, Tunisia, Turkey, UAE, UK and US. It is focused on building a group of €1.2 billion in revenue, of which more than 50% outside France.

AKKA Technologies is listed on Euronext Paris - Segment B - ISIN code: FR0004180537.

For more information, please visit www.akka-technologies.com

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In case of discrepancy between the French and English versions of this press release, only the French version should be deemed valid.