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EQS-News: Gigaset AG / Key word(s): Takeover/Mergers & Acquisitions
VTech to Acquire Assets of Gigaset Communications GmbH
2024-01-24 / 13:04 CET/CEST
The issuer is solely responsible for the content of this announcement.
Press release
Bocholt, January 24^th, 2024

VTech to Acquire Assets of Gigaset Communications GmbH
Strategic Acquisition Strengthens VTech's Global Businesses and Operations
Hong Kong and Bocholt, Germany, January 24^th, 2024 - VTech Holdings Limited ("VTech", HKSE: 303), a global leader in
electronic learning products from infancy through toddler and preschool and the largest manufacturer of residential
phones in the United States, today announced that Snom Solutions GmbH, its indirect wholly-owned subsidiary, has
entered into an Assets Purchase Agreement to acquire the assets (including the manufacturing facilities located in
Bocholt, Germany) of Gigaset Communications GmbH ("Gigaset").
Gigaset is the market leader for DECT (Digital Enhanced Cordless Telecommunications) cordless phones in Europe. It also
provides business telephony solutions for enterprise customers, Android-based mobile communications as well as
cloud-based smart home offerings for private and business customers. Through the acquisition of Gigaset's assets, VTech
will be able to strengthen its leadership position in residential cordless phones, expand its market channels and
product portfolios globally, as well as manufacturing footprint in Europe. The acquisition would also add engineering
talents to VTech's global R&D teams, leveraging synergies in technological development of its products and operational
efficiencies.
"We are excited to be making this strategic acquisition. Gigaset's product portfolio, European market leadership,
advanced R&D capabilities and manufacturing excellence are highly complementary with VTech," said Hillson Cheung,
President of VTech Telecommunication Products. "With VTech's financial backing and management support, the business
activities of Gigaset would be able to continue after the acquisition, and move towards a sustainable growth and
development."
"The acquisition represents a significant step forward in our transition journey." said Dr Magnus Ekerot, CEO of
Gigaset. "As part of the VTech family, we will have a solid foundation not only to strengthen the relationship with our
global business partners, but also facilitate our products to reach more consumers and enterprise customers, giving us
a unique platform to embark on a new era of growth."
The acquisition is expected to complete on April 2^nd, 2024, subject to fulfilment of the closing conditions set forth
in the Assets Purchase Agreement. VTech intends to fund the acquisition through internal resources.
End
Investor Conference Call
VTech will conduct a conference call to discuss the information included in this news release and related matters in
April 2024 after the completion of the acquisition.
About Vtech
VTech is the global leader in electronic learning products from infancy through toddler and preschool and the largest
manufacturer of residential phones in the US. It also provides highly sought-after contract manufacturing services.
Since its establishment in 1976, VTech has been a pioneer in the electronic learning toy category. With advanced
educational expertise and cutting-edge innovation, VTech products provide fun and learning to children around the
world. Leveraging decades of success in cordless telephony, VTech's diverse collection of telecommunication products
elevates both home and business users' experience through the latest in technology and design. As one of the world's
leading electronic manufacturing service providers, VTech offers world-class, full turnkey services to customers in a
number of product categories. The Group's mission is to integrate economic growth, environmental protection and social
responsibility in its business strategies to design, manufacture and supply innovative and high quality products for
the well-being of people and benefits of society, aiming to drive sustainable value for its stakeholders and the
communities.
For inquiries, please contact:
VTech Holdings Limited
Grace Pang, Head of Corporate Marketing
+852 26801703
grace_pang@vtech.com
Gigaset Communications GmbH
Raphael Dörr, SVP Corporate Communications & Investor Relations
+49 89 444 456 602
raphael.doerr@gigaset.com
Gigaset is a global leader in communications technology, offering a wide range of products and solutions. As Europe's
market leader in DECT phones, Gigaset also ranks among the leaders internationally with around 850 employees and sales
activities in over 50 countries. In addition to DECT phones, the business activities of the traditional German company
with its more than 175-year history also include an extensive mobile communications portfolio for private and business
customers, cloud-based smart home and smart care solutions as well as business telephony solutions for SoHo, SMEs and
the enterprise sector. Since September 20, 2023, Gigaset Communications GmbH has been subject to insolvency proceedings
under self-administration.
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Visit our homepage: www.gigaset.com
2024-01-24 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Gigaset AG 

Frankenstr. 2
46395 Bocholt
Germany

Phone:        +49 (0)89 444 456 866 
Fax:          +49(0)89 444 456 930 
E-mail:       info@gigaset.com 
Internet:     www.gigaset.com 
ISIN:         DE0005156004 
WKN:          515600 
Listed:       Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1822197

End of News EQS News Service
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1822197 2024-01-24 CET/CEST

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END) Dow Jones Newswires

January 24, 2024 07:04 ET (12:04 GMT)