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. 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 Communications 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 Accessories; 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 Communications 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 separate 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.