Kontron gains control of Katek SE – mandatory offer follows
Kontron started 2024 by acquiring a majority stake in EMS provider Katek SE. All closing conditions of the share purchase agreement have been met and a mandatory offer for the rest of the shares will follow.
The integration of Katek SE into the Kontron Group will start immediately. The publication of a mandatory offer following the permission of The Federal Financial Supervisory Authority (Bafin) is expected for April.
Kontron says that it will publish a mandatory offer to the shareholders of Katek in the coming weeks. The price offered will be EUR 15 per share. In addition, Kontron is also working on an exchange offer involving Kontron shares, which will be open to KATEK shareholders as an alternative.
The acquisition of Katek significantly strengthens Kontron's portfolio of renewable “green” energy solutions and the aerospace segment – and a new GreenTec division will be established within Kontron.
The future-oriented “GreenTec” division will expand Kontron’s “Software + Solutions” segment with solutions and products for solar energy and e-mobility. An important part of this product range involves control electronics for photovoltaic systems and the growing area of smart charging solutions for electric vehicles. The avionics business will be seamlessly integrated into Kontron’s existing aviation business. The current Electronics business will be further developed into an ODM business.
“By acquiring control today, we have achieved a milestone in the history of IoT at Kontron. With our number of employees now at approx. 8000, along with expected cumulative revenues of around EUR 1.9 bn for the fiscal year 2024, Kontron has reached a new size on the market. With our new GreenTec division, we’re going to exploit the potential in the clean energy sector at the same time as increasing our gross margins by around 5 percentage points in the medium term by upgrading Katek products with Kontron software” says Hannes Niederhauser, CEO of Kontron AG, in a press release.
Katek CEO Rainer Koppitz has stepped down from his position. Johannes Fues, CFO of Katek SE, will resign from the management board by the end of April 2024 and will soon join the executive board of Kontron AG as Chief Operating Officer (COO) with responsibility for GreenTec.
