© Virtual Access Limited © Westermo Electronics Production | October 31, 2019
Beijer Electronics acquires Irish company Virtual Access
Beijer Group's business entity Westermo has acquired 100% of the Irish company Virtual Access Limited, a technology company specialised in wireless industrial routers and gateways and managed connectivity services.
Back in July, the Swedish group and Westermo acquired the technology company Neratec, a provider of WLAN solutions mainly for the train market, with its latest acquisition, Westermo also adds cellular technology. With these two additions, Westermo is sporting a broad and strong wireless portfolio that will support an accelerated profitable growth going forward. Virtual Access has about 40 employees and sales of about EUR 12 million with good profitability. The company has its operations is in Dublin in Ireland. “I am pleased that we today announce this second complementary acquisition to the business entity Westermo. We operate in markets where digitalisation is growing rapidly in an increasingly connected world and this acquisition of Virtual Access strengthens our position further,” says Per Samuelsson, President and CEO of Beijer Group. “The acquisition of Virtual Access will strengthen Westermo’s offering to the Power distribution and Utility markets to include a strong remote access portfolio that we can channel via our worldwide sales network. This acquisition supports our WeGrow strategy in a superb way. Virtual Access in Ireland will be the technology centre for cellular remote access solutions within Westermo,” says Jenny Sjödahl, CEO of Westermo. The purchase price amounts to EUR 18 million on a cash/debt-free basis and is paid in cash and financed within the group’s existing financing agreement.