Indutrade has on 31 August 2018 signed an agreement to acquire all assets of TXRX Systems from Bird Technologies.
TXRX is a leading manufacturer of products and technical solutions for Professional Mobile Radio (PMR) systems for the US market. TXRX offers a broad range of combiners, filters and antennas to primarily the system integrator market for PMR systems. The end customers are within public safety, first responders, public transportation and utility services. The company is based in Angola, south of Buffalo in New York, USA. Net sales amounted to about 13 MUSD and the company has 56 employees.
The closing takes place today and TXRX will be a part of Indutrade’s Danish company Combilent, within the business area Measurement & Sensor Technology. Combilent holds a leading position in the same product areas in the European market.
“The US market for PMR systems is served by regional and local systems integrators and TXRX is a strong brand with a leading position to these customers” says Claus Dall-Hansen, Managing Director at Combilent A/S.
“We are pleased to announce this add-on acquisition which enables us an important position in the US market. Combined with Combilent’ s leading position in Europe, it provides significant growth opportunities”, says Jonas Halvord, Senior Vice President Acquisitions and Business Development at Indutrade.
The acquisition is expected to have a marginal positive impact on Indutrade’s earnings per share.
Stockholm, 31 August 2018
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00