Sagem Communications has concluded the acquisition of the Broadband and WiMAX business of Gigaset Communications GmbH, a subsidiary of Arques Industries AG and Siemens AG.
This deal represents 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.
"We are excited to close this transaction" said Patrick Sévian, President of Sagem Communications. "The global footprint and complementary customer base of Gigaset will allow us to deliver an even greater offering and value proposition to our customers".
"We are delighted that with Sagem Communications we have found a proficient and well positioned partner in the broadband business" commented José Costa e Silva, CEO of Gigaset Communications.
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 broadband terminals, convergence and energy solutions. 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 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.