Kontron sells stake in ubitronix
Kontron AG has sold its stake in ubitronix system solutions GmbH. Kontron also plans to dispose of its share in Affair 000 with its further Russian participations RTSoft Project, RTSoft ZAO and Training Center RTSoft.
The company is already engaged in concrete sales negotiations and expects to conclude the sale during the summer of this year. In 2013, ubitronix and RTSoft accounted for approximately EUR 80 million, representing about 15 percent of Kontron AG’s total revenues. The two participations focus mainly on specific and comprehensive project services in the energy/power sector. These areas of activity are outside of Kontron AG’s immediate core business.
The 40 percent share in ubitronix, which Kontron had acquired in July 2010, was sold to the management of the company in the context of a management buy-out. The voting rights attached to an additional 11 percent of the shares were returned to the current shareholder. The parties agreed to maintain confidentiality on the purchase price.
“After a successful cooperation with ubitronix, we have been happy to accept the buy-out proposal conveyed to us by the management because it represents a good and sound solution for both parties,” says Rolf Schwirz, CEO of Kontron AG. “At the same time, the completed and the planned disposals are important steps to refocus on our strategic core business. As the market leader in the ECT segment, we can now systematically direct our resources on delivering high-quality, innovative ECT solutions that create lasting competitive advantages for our clients.”
Read more: http://evertiq.com/news/34026
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