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Electronics Production | October 06, 2010

Addtech acquires Fox Electronics

Addtech Components, a business area in the Addtech Group, has signed an agreement to acquire all shares outstanding in Fox Electronics AS.
Fox Electronics is a technology trading company which sells components and customised solutions within electronics and fibre optics. The company is a well known supplier to Norwegian manufacturers of technically advanced equipment.
Fox Electronics has 7 employees and a revenue of approximately NOK 45 million (EUR 5.6 million).

The closing will take place November 1, 2010 after approval is obtained from the appropriate authorities. The acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year.

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