Electronics Production |
HPI AG acquires Azego Components AG
HPI AG, is to acquire Azego Components AG. It was declared to maintain silence about the precise purchase price for. The transaction was completed exclusively on equity basis to keep liquid funds of HPI AG constant.
"Also in the future we want to sustainably raise the company value of HPI AG by acquiring interesting companies. By acquiring Azego Components AG we gained another scalable business area. Azego Components AG can generate about 1 m Euro of turnover relevant for margin per 3 m Euro market value of additional excess inventory. The take-over generates additional growth potentials and strengthens our international market position. This acquisition is only the beginning. We are currently negotiating with very interesting companies that show impressive business concepts in the area of procurement", states manifests Michael Negel, CEO of HPI AG.
The previous CEO of Azego Components AG, Norbert Wilkat, will continue to work for the company until 2013, which was agreed by contract. In the field customers of the group worldwide he will continue to be head of strategic purchase and sales of Azego Components AG.
Azego Components AG was founded by Dr. Cornelius Boersch in 1995 under the name ACG AG as a provider of chip cards. 1999 former ACG AG merged with W.W. Chip AG to become a provider of semiconductors and chip card systems. Later on the company changed the name to Azego Components AG. The company used to be a strong competitor of ce Global Sourcing AG (formerly: ce consumer electronic AG).
