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Investor to acquire a majority stake in congatec
The Deutsche Beteiligungs AG (DBAG) is investing in embedded technology company, congatec Holding AG.
In a management buyout, DBAG Fund VIII, will acquire the majority of the shares from the founding shareholders. The parties have agreed not to disclose the purchase price. The closing of the purchase agreement is still subject to the approval of the antitrust authorities and is scheduled for the fourth quarter of 2020, a press release reads. Jason Carlson, Chairman of congatec's Management Board, points out that the investment of DBAG comes at the right time to unlock diverse market potentials which are increasing as a result of Covid-19. “In DBAG, we have found a strong partner for the further development of our company who is well versed in our customers' key end markets and brings financing and M&A experience - with DBAG and DBAG Fund VIII, we are well positioned to take advantage of these expanding market opportunities,” says Jason Carlson Today, more than two-thirds of congatec's revenue are coming from customers based in Europe, however, the company sees its share of sales with customers from the USA and Asia growing rapidly, and expects this trend to accelerate. congatec also expects the inclusion of computer modules for new processor types to its product range to also drive the company's growth. A key driver for this is the rapidly growing demand for high-performance computing solutions – including industrial and tactile IoT, artificial intelligence and further edge applications that require computing power directly inside the device in real time and not in the cloud. "We expect continued strong growth in digitization," said Dr. Rolf Scheffels, member of the DBAG Management Board, on the occasion of the signing of the contract. The pandemic has given a boost to the Internet of Things and Industry 4.0 – which will further boost demand for the necessary computer components. In recent years DBAG has been intensively involved with companies in the embedded electronics sector and has previously invested Duagon AG.
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