With the help of Foxconn
S&T wants to invest in Kontron
S&T intends to acquire up to 29.9% of Kontron's shares. The aim is to take on a leading role in the field of Industry 4.0 and IoT. The deal is to be financed through a partnership with Apple supplier Foxconn.
The Management Board of S&T announces that it is in advanced negotiations with Ennoconn Corporation regarding the participation of Ennoconn Corporation in S&T in the course of a 10% cash capital increase. The proceeds from the cash capital increase are to be used to acquire a stake of up to 29.9% in Kontron. The Management Board of S&T announces that it is in advanced negotiations with Kontron shareholders regarding the acquisition of the aforementioned shares.
Objective of the investments
Ennoconn Corporation is a manufacturer of embedded industrial computer systems and a subsidiary of the world's largest electronics manufacturer Hon Hai Precision Industry Co., Ltd., which is known as the producer of Apple iPhones under the Foxconn brand. The Foxconn Group's investment in S&T on the one hand and S&T's investment in Kontron on the other would provide the S&T Group with significant synergies in the course of a strategic cooperation: the Foxconn Group has efficient development and production capacities in the areas of embedded computer systems and radio data transmission as the world's leading manufacturer, while Kontron has a broad customer base as the former market leader in the embedded computer segment. Together with its in-house software engineering resources, S&T aims to play a leading global role in the IoT and Industry 4.0 market segment.
The technology group S&T
The Austrian technology group S&T operates worldwide with around 2,400 employees and branches in 20 countries. According to its own statements, the system house is one of the leading providers of IT services and solutions in Central and Eastern Europe. As a renowned IT manufacturer, S&T has a large portfolio of proprietary technologies, for example in the areas of appliances, cloud security, embedded computers and smart energy.
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