ECHING (dpa-AFX) - Kontron AG (KOTRF.PK), an IoT technology company, announced Wednesday that its subsidiary Katek SE will sell its entire stake in TeleAlarm Europe GmbH for a purchase price of 39 million euros.
Katek has accepted the offer of PRIMEPULSE 3 Vorrats-GmbH, a subsidiary of Munich-based PRIMEPULSE SE, to acquire TeleAlarm Europe.
The sale is part of Kontron's streamlining of its activities and efforts to focus on the core business. This was following the completion of the delisting tender offer to the remaining minority shareholders of Katek SE and the successful delisting from the stock exchange. Kontron now holds over 87% of Katek.
TeleAlarm provides hardware and software solutions that help seniors and people with physical disabilities to lead a relatively independent life in familiar surroundings. Kontron noted that this business segment is not one of its core activities.
The sale reflects Kontron's strategic focus on IoT solutions in the areas of smart trains, intelligent solar systems, eMobility solutions, aerospace and smart factories.
Under the streamlining process, Kontron Chief Financial Officer Clemens Billek was appointed to the Executive Board of Katek SE as CFO with effect from June 1. Billek has been a member of the Executive Board of Kontron since 2022.
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