(GLOBE NEWSWIRE) - Hexatronic Group AB (publ) (”Hexatronic”) has on June 1 entered into an agreement to acquire all shares in the UK-based fiber optic company Tech Optics Limited (“Tech Optics”).
Tech Optics is a fiber optic products supplier and cable assembly manufacturer, established since 1988. The company specialises in applications within harsh environments, for example defence, aerospace, oil and gas industry. Tech Optics is an approved supplier to the UK defence industry and provides many leading companies worldwide with an extensive range of fiber optic communications products, customised fiber optic cable assemblies and fiber optic expertise.
The acquisition has no significant impact on Hexatronic’s earnings.
“Tech Optics has been a partner to us for many years and we are very pleased to welcome the team to Hexatronic group. This strategic acquisition brings us Tech Optics’ know-how and position within fiber optic solutions for harsh environments. Together with our Fiber-To-The-Home (FTTH) company Hexatronic UK and our training companies PQMS, Smart Awards and Gordon Franks Training we become a strong player in the UK-market for fiber optic solutions” says Henrik Larsson Lyon, CEO Hexatronic Group AB.
The law firm DMH Stallard has been Hexatronic’s legal advisors in the Tech Optics acquisition.
Hexatronic Group AB (publ) is a group that develops, manufactures, 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 Ribbonet®, Micronet™, Drytech™, Lightmate®, FibreHub™, Matrix, Viper, Stringray, Raptor, InOne 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.
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