Mycronic acquires RoyoTech and Kognitec
Täby, 11 February, 2016 - Mycronic AB (publ), has acquired 75 percent of RoyoTech Digitalelektronik GmbH and has an option to acquire the remaining 25 percent. At the same time Mycronic acquires 100 percent of Kognitec Vertrieb and Service GmbH. Both companies are based in Höhenkirchen, Germany.
RoyoTech develops and manufactures the SMD Tower – an intelligent storage solution of electronic components. Kognitec is distributing the SMD Tower in parallel with Mycronic to the SMT market globally.
Mycronic has marketed the SMD Tower worldwide since 2008 and is RoyoTech’s main distributor and largest customer. The storage concept was originally developed in close collaboration with German customers in 2004. Today there are approximately 1,000 SMD Towers installed at customer sites globally. The acquisition secures the rights to a strategic product already part of Mycronic’s SMT portfolio.
RoyoTech is a private company founded in 1991, based in Höhenkirchen in Germany, and has ten employees. The founder and owner Peer Mietusch will retain 25 percent of the shares in the company and will remain CEO. RoyoTech had a turnover of EUR 3.3 million in 2014, of which the major part stems from Mycronic. Kognitec is a private company founded by Peer Mietusch in 2013 with revenue of EUR 0.650 million in 2014.
The companies will be consolidated into the Mycronic Group as of 1 January, 2016.
“We are happy to have concluded these acquisitions. They represent a natural next step to deepen the collaboration with RoyoTech as we see an increasing demand for the SMD Tower from our core customers as well as from large manufacturers using assembly equipment from other suppliers”, says Robert Gothner, Senior VP and General Manager, Business Area SMT, Mycronic AB.
The SMD Tower is already well integrated into Mycronic’s intelligent material handling solution and a vital building block in the agile manufacturing solution Mycronic 4.0, that masters the complexity of modern electronics production.
Contacts at Mycronic:
Robert Göthner
Senior VP & General Manager, Business area SMT
+46 8 638 5200
robert.gothner@mycronic.com
Per Ekstedt
CFO
+46 8 638 5200
per.ekstedt@mycronic.com
About Mycronic AB
Mycronic AB is a Swedish high-tech company engaged in developing, manufacturing and marketing of production equipment for the electronics industry. Mycronic headquarters are located in Täby, north of Stockholm and the Group has subsidiaries in China, France, Germany, Japan, Singapore, South Korea, Taiwan, the Netherlands, the United Kingdom and the United States. For more information see our web site at: www.mycronic.com.
Mycronic AB (publ) is listed on NASDAQ Stockholm, Mid Cap: MYCR.
The information was submitted for publication on 11 February, 2016.