Addtech Power Solutions, a business area in the Addtech Group, has today signed an agreement to acquire 100% of the shares in DMC Digital Motor Control GmbH ("DMC") and Q-tronic B.V. ("Q-tronic").
DMC designs and produces electrical motor controllers for battery driven applications including electrical vehicles. The company is based in Germany, with sales mainly throughout Europe. Q-tronic provide electrical component solutions and subsystems for electrical vehicles in mainly Benelux countries. Together DMC and Q-tronic have a turnover of approximately EUR 7 million and have 20 employees.
DMC and Q-tronic will very effectively complement Addtech's current operations in the business unit Customised Solutions with its focus on electrification of vehicles and machines. Together with our other companies in the business unit, DMC and Q-tronic will strengthen our position in providing own solutions that matters for machine efficency world wide.
The closing will take place today and is estimated to have a marginally positive effect on Addtech's earnings per share during the next financial year.
Stockholm, March 2, 2020
Addtech AB (publ)
For further information, contact
Niklas Stenberg, MD, Addtech AB, +46 8 470 49 00
Per Lundblad, Business Area Manager, Addtech Power Solutions, +46 70 795 66 02
Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and public sector. Addtech has about 2 900 employees in more than 130 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 11 billion. Addtech is listed on the Nasdaq Stockholm.
This information was submitted for publication on March 2, 2020 at 4.00 p.m (CET).
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