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2020-07-23_Hexatronic strengthens its system offering in the US with the acquisition of The Light Brigade
Kurs & Likviditet
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Informationsteknik |
| Industri | Infrastruktur |
Hexatronic Group AB (publ)
556168-6360
Press Release July 23, 2020
Hexatronic strengthens its system offering in the US with the acquisition of The Light Brigade
Hexatronic Group AB (publ) (“Hexatronic”) has on the 23rd of July 2020 entered into an agreement to acquire all shares in The Light Brigade Inc. (“Light Brigade”), a US-based fiber optic training provider for the wireline, wireless, broadband communication, service providers, data centre, electric utility, oil & gas, mining, and industrial market sectors.
Light Brigade
Light Brigade was established in 1990 and has trained more than 60,000 people in fiber optics. The headquarters is based in Kent, Washington state, and it has trainers based in several other states to cover all of North America. This enables training to be offered in more than 75 different cities each year. The business has a streamlined focus on providing world class training for fiber optics and associated applications. This ranges from introductory trainings to highly advanced design and engineering training.
The acquisition is subject to customary closing conditions and is expected to close August 1st, 2020.
The seller is AFL Telecommunications LLC, a wholly owned business of America Fujikura, Ltd.
The acquisition is strategic and will further enhance Hexatronic’s presence and network in the US, enable Hexatronic to reach out to more potential customers and to complement Hexatronic’s system offering with training. The acquisition has no significant impact on Hexatronic’s revenue or earnings.
Comments from the CEO
“We are very pleased to welcome Light Brigade to Hexatronic Group. The company will enable Hexatronic to complement our strong FTTH system offering with training in the important US market that is our second largest market. The acquisition will strengthen our position in North America where we see large growth potential for our solutions. The acquisition further enhances Hexatronic Group’s business area training, where we now can offer training in Sweden, Norway, the UK and the US” says Henrik Larsson Lyon, CEO of Hexatronic Group.
Comments from AFL IG CEO
“AFL believes that the alignment between Hexatronic and Light Brigade is an excellent fit for the business to move forward and prosper. Hexatronic has a strong fiber Optic training business in Europe, and The Light Brigade is the #1 Fiber Optic training business in North America. Combining these two businesses enables a synergistic power that will be unmatched in the industry” says Steve Althoff, President AFL IG
Advisor
Wyrick Robbins has acted as legal counsel to Hexatronic for its acquisition of Light Brigade.
Gothenburg, 23 July, 2020
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
• Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
This is information that Hexatronic Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 20:30 CET on July 23 2020.
Hexatronic Group AB (publ) is a group that develops, markets and delivers products, components and system solutions with the main focus on the fiber optic market. Hexatronic offers a wide range of innovative system and product solutions mainly for passive fiber optic infrastructure with global trademarks like Matrix, Viper, Stingray, Raptor, InOne, Drytech™, Lightmate®, Skyline and Wistom®. The Group has its headquarters in Gothenburg, Sweden and has sales offices and/or subsidiaries in Sweden, Norway, Finland, United Kingdom, Germany, China, New Zealand and the US. The Group is listed on Nasdaq Stockholm under the ticker HTRO. For more information, visit www.hexatronicgroup.com.