Sagem Communications, a portfolio company of Gores Group, has agreed to acquire the broadband and WiMax unit of Gigaset Communications, a subsidiary of Arques Industries AG and Siemens AG. No financial terms were disclosed.
Sagem Communications has entered into an agreement to acquire the Broadband and WiMAX business of Gigaset Communications GmbH, a subsidiary of Arques Industries AG and Siemens AG.
This should be the first acquisition for Sagem Communications since being acquired by The Gores Group, a US-based private equity firm, in January 2008. The addition of the Broadband and WiMAX assets of Gigaset should enable Sagem Communications, in accordance with its strategy, to enhance its position as a leading global provider of broadband products and to gain access to new technologies and customers. Sagem Communications has 6,570 employees worldwide, and posted sales of 1.3 billion euros in 2008.
Through the transaction, Gigaset Communications would strengthen its core business as the European market leader for cordless DECT phones.
“This acquisition should reinforce Sagem Communications’ objective to become a world leader in broadband terminals, convergence and digital home solutions” said Patrick Sevian, President of Sagem Communications. “We firmly believe that the global customer footprint and the excellent R&D capabilities of Gigaset will significantly enhance our positioning and the value we provide to our customers”.
”The voice business is our core competence and the foundation of our market leadership. That is why we focus on our strengths as a well established, modern and innovative manufacturer of telephones”, says José Costa e Silva, CEO of Gigaset Communications. “We are delighted that with Sagem Communications we have found a proficient and well positioned partner in the broadband business.”
The transaction is subject to the prior consultation of Sagem Communications’ Workers Council and to the approval of the relevant competition authorities.
About Sagem Communications
A French, international scale, high technology company, Sagem Communications specialises in broadband communications and convergence (printing terminals, digital TV set-top boxes, broadband and residential terminals, communicating energy management solutions and telecom systems and partnerships.) Sagem Communications aims to become a world leader in convergence and broadband terminals. With a turnover of more than 1.3 billion euros, Sagem Communications employs 6,570 people on five continents and is headquartered in Paris.
The sustainable development policy commitment at Sagem Communications starts right from the product design stage. It applies to the whole of the industrial process, the eco-design in accordance with ISO standards and includes the energy consumption of the products, and is included in an ethical charter applicable to all its suppliers.
For more information, please visit: www.sagem-communications.com