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Panasonic completes its acquisition of Zetes Industries
Panasonic Corporation has completed the acquisition of 100% of outstanding shares of Zetes Industries SA and the de-listing of Zetes shares from Euronext Brussels.
Zetes is headquartered in Brussels, Belgium and has a strong position in goods and people identification and mobility solutions in Europe. This acquisition is an important milestone for Panasonic’s logistics business, one of the key segments in the growing B2B Solutions business. The transaction allows Panasonic to further strengthen its logistics solutions capabilities that help its logistic clients to increase the effectiveness and efficiency of their operations. In addition, Panasonic also intends to expand people identification solutions, which include the design, production and personalization of secure ID documents for the public sector. Following the de-listing, Panasonic is able to closely cooperate with Zetes and to accelerate the business development of both companies. Specifically, Panasonic plans to integrate its advanced research and development capabilities with Zetes’s goods identification solutions. Together with Zetes, Panasonic is also actively exploring further business expansion beyond Europe, including Japan. Zetes will continue to operate under the Zetes brand as part of the Panasonic Group and to be managed by the existing management team led by Mr. Alain Wirtz.
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