By Patrick Avenell
PARIS, FRANCE & SYDNEY, NSW: Sagem Communications reported it has concluded its acquisition of the Broadband and WiMAX business of Gigaset Communications, a subsidiary of Arques Industries and Siemens.
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.
Sagem Communications president Patrick Sevian reported that 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. He said Sagem Communications currently had 6,570 employees worldwide, and posted sales of 1.3 billion euros in 2008.
“We are excited to close this transaction,” said Sevian. “The global footprint and complementary customer base of Gigaset will allow us to deliver an even greater offering and value proposition to our customers”.
Also happy was Gigaset Communcations CEO Jose Costa e Silva, who said, “We are delighted that with Sagem Communications we have found a proficient and well positioned partner in the broadband business”.
Gigaset Communications reported this transaction would strengthen its core business as the European market leader for cordless DECT phones.