Technology

Kontron Acquires Control Of Katek

February 29, 2024 — 01:08 pm EST

Written by RTTNews.com for RTTNews

(RTTNews) - IoT technology provider Kontron AG (KOTFY.PK), Thursday announced that it had gained control over Katek SE, under the share purchase agreement signed on January 18 with PRIMEPULSE SE.

Following the announcement, Katek CEO Rainer Koppitz stepped down from the role, effective immediately, while Hannes Niederhauser, CEO of Kontron AG, will join the Management Board.

The company stated that a mandatory offering would be published to the shareholders of Katek soon with per share priced at 15 euros, followed by a delisting acquisition offer.

Also, Kontron said, "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".

Currently, Kontron has around 8000 employees along with estimated revenue of 1.9 billion euros for the fiscal year 2024.

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Kontron Acquires Control Of Katek

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