Softing AG - M&A Activity 2019 | FinancialReports.eu

News Details

Corporate | 19 August 2019 09:01

Softing AG to acquire Phoenix Digital

DGAP-News: Softing AG / Key word(s): Takeover

19.08.2019 / 09:01

The issuer is solely responsible for the content of this announcement.

Knoxville, TN, August, 2019 – Softing has acquired the assets of Phoenix Digital Corporation (PDC), a provider of secure industrial fiber optic communication products. The business will be operated by Online Development Inc.

“Phoenix Digital’s secure fiber optic modules are a great addition to Softing Industrial’s portfolio of IoT communications products, expanding the technologies offered and the industries served,” said Dr. Wolfgang Trier, CEO of Softing AG. Softing is expecting the acquisition to contribute additional revenue of up to EUR 3 million annually once integrated in the Softing product portfolio.

The patented Phoenix Digital communication approach is secure by design. The fiber-optic packet-encapsulation technology requires no user-based software and is simple to deploy. The ring topology sets up with a single dip switch on only one of the modules. No programming, addressing assignments, or configuration are required. The PDC system is MACID based, not IP based. The end user does not have to set up an IP based system or cross reference tables.

Oil and Gas, Mining, Chemical, Water, Wastewater and Infrasturture are all key industries for PDC. These industries value robustness, security, and the ability to bring the systems back online very quickly.

About Phoenix Digital

Founded in 1992, Phoenix Digital operates on the principal that industrial fiber optic networking shouldn’t be difficult. Its fiber optic communication modules are installed in demanding environments such as oil and gas, water/wastewater, mining, bridges and tunnels, and power generation. The secure fiber optic modules require no IP programming, software updates, security patches, driver updates or memory flash configurations. https://www.phoenixdigitalcorp.com

About Softing AG

Softing is a leading global provider of products for Industrial Automation and for Automotive Electronics. For over 30 years, Industrial data communication between fieldbus devices, controllers, and hosts has been the core business of Softing Industrial Automation. The company uses standardized technologies in the field of process engineering applications and discrete manufacturing. Based on in-house technology and cross-sector expertise, Softing offers innovative hardware and software products together with comprehensive integration services for fieldbus technology, Industrial Ethernet, and OPC. For more information visit http://company.softing.com/en/

Contact:

Dr. Wolfgang Trier

CEO

19.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	Softing AG
	Richard-Reitzner-Allee 6
	85540 Haar
	Germany
Phone:	+49 (0)89 456 56-333
Fax:	+49 (0)89 456 56-399
E-mail:	[email protected]
Internet:	www.softing.com
ISIN:	DE0005178008
WKN:	517800
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	859277