Munich, January 22, 2014 - The Gigaset Group is selling its subsidiary SM Electronic GmbH. The company is being sold to Microelectronic NH GmbH, which is adding SME to its company group as a strategic investment. Both parties have agreed not to disclose any information on the purchase price.
Through the sale of SM Electronic, Gigaset AG is divesting one of the last business fields identified for discontinuation as part of the strategic realignment and the resulting change from an affiliated company to a pure telecommunications company. SM Electronic markets set-top boxes, satellite systems, cables and other TV accessories. In 2012, the company posted annual revenue of €17.7 million.
Gigaset recently announced its intention to enter the market for smartphones and tablets in addition to its core DECT telephone business. The company launched its first two tablets on the market in December 2013.
Gigaset AG, Munich, is an internationally operating company in the area of communications technology. The Company is Europe's market leader in DECT telephones. The premium supplier ranks second worldwide with around 1,400 employees and a market presence in around 70 countries.
Gigaset AG is listed on the Prime Standard of Deutsche Börse and so is subject to the very highest requirements for transparency. Its shares are traded on the Frankfurt Stock Exchange under the symbol 'GGS' (ISIN: DE0005156004). DE0005156004.