Seco takes over the Garz & Fricke Group. With the acquisition of the Hamburg-based company, the Italian provider of embedded systems, IoT and artificial intelligence solutions is following its growth trajectory. Seco is thus strengthening its presence in the German-speaking region (DACH) and further expanding its range of IoT, AI and edge solutions on the market.

The companies emphasize their complementary business models and product offerings.

Massimo Mauri, CEO of Seco: "The acquisition of the Garz & Fricke Group is an important step in Seco's growth project. (...) We see the acquisition of the Garz & Fricke Group as an important milestone in strengthening our European and global leadership position. We also want to consolidate our strategic access to a key market such as Germany and further accelerate the introduction of CLEA to an even larger customer base. We also want to expand our product portfolio with key competencies and technologies."

Stefan Heczko, CEO of Garz & Fricke Group: "This merger is an ideal strategic fit and will enable our customers to benefit from the development of an even broader product offering and even more efficient processes. Existing solutions from the Garz & Fricke Group will be integrated into Seco's technological and operational platform in the future."

In 2017, the investment company Afinum acquired a stake in the Hamburg-based embedded HMI specialist Garz & Fricke. In the following years, the Garz & Fricke Group was formed through the acquisitions of the application and platform developer e-GITS in 2019 and the processor module specialist Keith & Koep in 2020.

With this transaction, Seco is now acquiring 100% of the share capital of Garz & Fricke Holding via AF HMI Holding.