Gigaset Communications: Sale of broadband business to Sagem Communications concluded
Munich, Jul 1, 2009
Gigaset Communications GmbH has concluded the sale of its broadband business. Following approval of the transaction by antitrust authorities and other bodies, the related business activities were transferred to Sagem Communications effective July 1, 2009 (closing of the agreement). In March of this year, the two companies had agreed in principle to the sale of Gigaset's broadband business as part of an asset deal. Sagem Communications is a subsidiary of The Gores Group, U.S., and Gigaset Communications is an ARQUES Industries AG company.
With this step, Gigaset Communications, Europe's leading producer of DECT phones, is strengthening its core business. In the first four months of 2009, the industry leader was able to increase its market share in Europe year-on-year to more than 30 percent in terms of value. This share in Germany is now around 60 percent.
'Customers prefer our award-winning design and ecological, high-quality products ' i.e. Made in Germany,' said José Costa e Silva, CEO of Gigaset Communications GmbH. 'Gigaset Communications is sticking to its clear strategy by withdrawing from the broadband business, and the numbers confirm our strategy. We are a focused premium vendor in the field of home communications, and we are achieving clear market success there.'
For Sagem Communications, a majority holding of the U.S.-based Gores Group, the broadband activities of Gigaset Communications offer a strategically ideal addition to the already existing product portfolio. Sagem Communications has been doing broadband business successfully for
many years and has the critical mass to assure a successful future of the acquired business.
'This acquisition will reinforce Sagem Communications' objective to become a world leader in broadband terminals, convergence, digital home and energy management solutions,' said Patrick Sevian, President of Sagem Communications. 'We firmly believe that the global customer footprint and the excellent R&D capabilities of Gigaset will significantly enhance our positioning and the value we provide to our customers.'
Gigaset Communications GmbH is a licensee of the Siemens trademark. The company with its headquarters in Munich, Germany, develops, manufactures and distributes high-quality products under the brand Siemens Gigaset. The portfolio includes cordless phones, Voice over IP devices, software solutions and home media products. In Europe and Germany Gigaset Communications is clear market leader for DECT phones. The primary production site is in Bocholt, Germany, where the Gigaset products are developed and manufactured under the most stringent quality and environmental standards.
Gigaset Communications GmbH is an ARQUES Industries AG company.
Additional press releases are available for download at http://www.gigaset.com/press
You can find out more about Gigaset Communications at http://www.gigaset.com
