Kontron gains control of Katek SE – mandatory offer follows

Linz, 29 February 2024 –Kontron AG, a world’s leading provider of IoT technology, gained control of the listed company KATEK SE via Kontron Acquisition GmbH. All closing conditions of the share purchase agreement dated 18 January 2024 between Kontron Acquisition GmbH, Ismaning and PRIMEPULSE SE, Munich have been met. The integration of KATEK SE into the Kontron Group will start immediately. The publication of a mandatory offer following the permission of Bafin is expected for April.

Following today’s acquisition of control over Katek SE, Kontron Acquisition GmbH will publish a mandatory offer to the shareholders of Katek SE in the coming weeks in accordance with the provisions of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz). The bidder intends to issue the mandatory offer as a simultaneous delisting acquisition offer to enable the revocation of the admission of the shares of KATEK SE for trading on the Regulated Market of the Frankfurt Stock Exchange. The price offered in the Mandatory Offer will be EUR 15 per share. In addition, Kontron is also working on an exchange offer involving Kontron shares, which will be open to KATEK shareholders as an alternative. The publication of the offer document at www.katek-angebot.de (German only) is expected for April.

New GreenTec division and far-reaching synergies for further growth

The future-oriented “GreenTec” division will expand Kontron’s “Software + Solutions” segment with its high-quality solutions and products for solar energy and e-mobility. An important part of this product range involves control electronics for photovoltaic systems and the fast-growing area of smart charging solutions for electric vehicles. The avionics business will be seamlessly integrated into Kontron’s existing aviation business. The current Electronics business will be further developed into an ODM (original development manufacturer) business.

Synergic effects will arise from the complementary product portfolio as well as from the global market coverage. Katek’s products will be upgraded with software expertise and IoT connectivity from Kontron. The upgrade based on the Kontron operating system (K-OS) will make the products considerably more secure. They will receive firewall functionality and the ability to be connected to complex grids and allow remote maintenance.

Hannes Niederhauser, CEO of Kontron AG: “By acquiring control today, we have achieved a milestone in the history of IoT at Kontron. With our number of employees now at approx. 8000, along with expected cumulative revenues of around EUR 1.9 bn for the fiscal year 2024, Kontron has reached a new size on the market. With our new GreenTec division, we’re going to exploit the potential in the clean energy sector at the same time as increasing our gross margins by around 5 percentage points in the medium term by upgrading Katek products with Kontron software”.

Hannes Niederhauser to join KATEK Board

KATEK CEO Rainer Koppitz has stepped down from his position, effective today. Hannes Niederhauser, CEO of Kontron AG, has been appointed to the Management Board, with effect from 4 March 2024 to 28 February 2027. Johannes Fues, CFO of KATEK SE, will resign from the Management Board by the end of April 2024 and will soon join the Executive Board of Kontron AG as Chief Operating Officer (COO) with responsibility for GreenTec. Chairman of the KATEK SE Supervisory Board Klaus Weinmann and Supervisory Board member Markus Saller have resigned their positions, effective 28 February 2024.

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