Electronics Production | August 14, 2007
Thrane & Thrane divests European Satellite Link GmbH subsidiary
Thrane & Thrane A/S acquired the Norwegian company Nera SatCom AS in October 2006. That acquisition also comprised Nera SatCom's wholly-owned German subsidiary European Satellite Link GmbH (ESL) based in Hamburg, Germany.
Following the acquisition of Nera SatCom, Thrane & Thrane investigated whether ESL could be fitted into Thrane & Thrane's strategy going forward. The conclusion was that ESL could not profitably be integrated into Thrane & Thrane. Thrane & Thrane then launched negotiations with a number of parties interested in acquiring ESL. As a result of these negotiations, the company ESL Holding Aps represented by two former Thrane & Thrane employees, Nikolaj Hvegholm, Director of Partner Communication & Marketing, and Henrik Christensen, Director of Market Management, will acquire ESL. Closing of the acquisition is expected to take place before the end of August 2007. The two employees will resign their positions with Thrane & Thrane on the same date. As a Certified Partner ESL will continue to buy products, services and support from Thrane & Thrane. The divestment of ESL does not change Thrane & Thrane's outlook for the 2007/08 financial year. The company thus continues to expect revenue of around DKK 1,350 million (DKK 1,121 million) and an operating margin of around 15% (10.5%).