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UET United Electronic Technology AG
M&A Activity • Jan 28, 2022
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M&A Activity
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News Details
Ad-hoc | 28 January 2022 10:51
UET United Electronic Technology AG intends to take over Dresden technology company Teleconnect GmbH
UET United Electronic Technology AG / Key word(s): Takeover/Strategic Company Decision
UET United Electronic Technology AG intends to take over Dresden technology company Teleconnect GmbH
28-Jan-2022 / 10:51 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces its intention to take over the technology and engineering company Teleconnect GmbH, founded 1990, in Dresden.
The envisaged transaction is a further development step for the UET Group to increase the technology depth for solutions relating to gigabit systems for private and public telecommunications networks. Since its foundation, Teleconnect has established itself as a pioneer in the development of communication systems as well as in designing hardware and software for data transmission and signal processing. Teleconnect has repeatedly conceived and achieved groundbreaking developments for wired, optical and wireless transmission.
The announced takeover will create an R&D center for solutions and highly integrated systems at the Dresden location, which will be used in systems of the UET-Group or for third-party customers. Among other things, these systems are used in gigabit applications as well as in 5G mobile and campus networks. Furthermore, the planned takeover will allow the UET Group to expand its know-how in development, standardization and research cooperation.
UET AG offers the shareholders of Teleconnect GmbH a complete takeover with a combination of a cash purchase price and the issue of new shares in UET AG. In the course of this transaction, it is proposed to increase the share capital of UET AG by 1,050,000 shares. After completion of the transaction, the shareholders of Teleconnect GmbH will become shareholders of UET AG.
For several years there has been an active and strategic cooperation between the UET companies and Teleconnect.
With 20 development engineers, Teleconnect generated sales of approx. 2 million Euro in the past financial year. It is intended that after the takeover all customer projects will be continued and further developed.
Contact:
UET United Electronic Technology AG
D-65760 Eschborn, Frankfurter Str. 80-82
Sebastian Schubert
Investor Relations
Tel: + 49 (0) 6196 777755-0
Email: [email protected]
28-Jan-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | UET United Electronic Technology AG |
| Frankfurter Straße 80-82 | |
| 65760 Eschborn | |
| Germany | |
| Phone: | +49 (0)6196-7777550 |
| Fax: | +49 (0)6196-7777559 |
| E-mail: | [email protected] |
| Internet: | www.uet-group.com |
| ISIN: | DE000A0LBKW6 |
| WKN: | A0LBKW |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart |
| EQS News ID: | 1274200 |
| End of Announcement | DGAP News Service |