Munich, June 25, 215 - The Executive Board and Supervisory Board of Gigaset AG agreed under the resolutions they adopted today that Gigaset Communications GmbH, a subsidiary that is wholly owned indirectly by Gigaset AG, is to extensively reorganize its brand portfolio. Gigaset's CEO Charles Fränkl explains the resolutions as follows: "This is positive news for Gigaset. Today's decision to reorganize the mark rights lets us tap into additional revenue we can invest in continuing to secure the company's future. Nothing will change for customers, employees and partners. Gigaset will stay Gigaset."
As part of the transaction that was signed today, Gigaset Communications GmbH will, among other things, sell the word mark and word/figurative mark "Gigaset" to Goldin Brand Ltd., a subsidiary of Goldin Fund Pte. Ltd. Goldin Fund Pte. Ltd. is the main shareholder of of Gigaset AG. However, Gigaset Communications GmbH will retain its rights to use the marks, provided that relates to the existing business of Gigaset Communications GmbH and its affiliated companies. Gigaset Com-munications GmbH and its affiliated companies will still be entitled to use the marks permanently, free of charge and largely exclusively.
In particular, the mark "Gigaset" will be exclusively available to Gigaset Communications GmbH and its affiliated companies in the business segments Cordless Phones, Gigaset Pro and Accesso-ries; the same goes for products in the category Internet of Things for the mark "Gigaset Elements."
The purchase price for the marks is EUR 29 million and is payable in cash to Gigaset Communica-tions GmbH concurrently with transfer of the marks, but on September 30, 2015, at the latest.
Gigaset Communications GmbH will also sell and transfer a number of Internet domains to Goldin Brand Ltd., including the domain gigaset.com, effective January 8, 2016. The purchase price for the domains is EUR 6 million. This part of the transaction is contingent on the conclusion of a sepa-rate agreement between the parties on shared use of the domains and joint brand management.
The proceeds will improve the financial freedom of Gigaset Communications GmbH and make it more independent of external funding. The fairness of the purchase prices have been confirmed by a Fairness Opinion from a well-known German auditing firm.
Press Spokesman Gigaset AG
Phone: +49 (0)89 444 456 866