Sagem Communications to Acquire the Broadband and WiMAX business of Gigaset Communications
March 3, 2009
Paris – March [3rd], 2009 – Sagem Communications has entered into an agreement to acquire the Broadband and WiMAX business of Gigaset Communications GmbH, a subsidiary of Arques Industries AG and Siemens AG.
This should be the first acquisition for Sagem Communications since being acquired by The Gores Group, a US-based private equity firm, in January 2008. The addition of the Broadband and WiMAX assets of Gigaset should enable Sagem Communications, in accordance with its strategy, to enhance its position as a leading global provider of broadband products and to gain access to new technologies and customers. Sagem Communications has 6,570 employees worldwide, and posted sales of 1.3 billion euros in 2008.
Through the transaction, Gigaset Communications would strengthen its core business as the European market leader for cordless DECT phones.
“This acquisition should reinforce Sagem Communications’ objective to become a world leader in broadband terminals, convergence and digital home 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”.
”The voice business is our core competence and the foundation of our market leadership. That is why we focus on our strengths as a well established, modern and innovative manufacturer of telephones”, says José Costa e Silva, CEO of Gigaset Communications. “We are delighted that with Sagem Communications we have found a proficient and well positioned partner in the broadband business.”
The transaction is subject to the prior consultation of Sagem Communications’ Workers Council and to the approval of the relevant competition authorities.
About Sagem Communications
A French, international scale, high technology company, Sagem Communications specialises in broadband communications and convergence in particular in the following areas: printing terminals, digital TV set-top boxes, broadband and residential terminals, communicating energy management solutions and telecom systems and partnerships.
The company is in a leadership position in these sectors thanks to its proven capacity for innovation. Sagem Communications aims to become a world leader in convergence and broadband terminals. With a turnover of more than 1.3 billion euros, Sagem Communications employs 6,570 people on five continents and is headquartered in Paris.
The sustainable development policy commitment at Sagem Communications starts right from the product design stage. It applies to the whole of the industrial process, the eco-design in accordance with ISO standards and includes the energy consumption of the products, and is included in an ethical charter applicable to all its suppliers.
For more information, please visit: www.sagem-communications.com
About The Gores Group, LLC
Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm's current private equity fund has committed equity capital of $1.3 billion. Headquartered in Los Angeles, California, The Gores Group, LLC maintains offices in Boulder, Colorado and London.
For more information, please visit www.gores.com.
About Arques Industries AG
ARQUES Industries AG, Starnberg, Germany, (www.ARQUES.de) is a business partner of conglomerates regarding company spin-offs and a turnaround specialist who focuses on the acquisition and the active restructuring of companies in transitional situations, in order to develop these, with its own team and own resources, to competitive enterprises with a positive yield. ARQUES revitalizes its subsidiaries' potential for creating value for the benefit of all its stakeholders, taking on the relevant social responsibility. The shares of ARQUES Industries AG are traded in the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the symbol "AQU" (ISIN: DE0005156004) and are listed in the SDAX.
About Gigaset Communications
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 (www.arques.de) company.