VTech to Acquire Assets of Gigaset Communications GmbH

EQS-News: Gigaset AG / Key word(s): Takeover/Mergers & Acquisitions
VTech to Acquire Assets of Gigaset Communications GmbH

24.01.2024 / 13:04 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press release
Bocholt, January 24th, 2024

VTech to Acquire Assets of Gigaset Communications GmbH
Strategic Acquisition Strengthens VTech's Global Businesses and Operations

Hong Kong and Bocholt, Germany, January 24th, 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 2nd, 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.

Follow us on: Facebook | Instagram | Pinterest | Twitter | YouTube | Blog |
Xing | LinkedIn
Visit our homepage: www.gigaset.com


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24.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   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 24.01.2024 CET/CEST