The Handheld Group has acquired TimbaTec, a supplier of rugged mobile computers in Germany, Austria and Switzerland from Latschbacher. Latschbacher is a supplier of computers, software and RFID tagging equipment for the forest industry, and Handheld's existing distribution partner in Germany, Austria and Switzerland. Handheld will turn TimbaTec into two new companies, Handheld Germany GmbH and Handheld Swiss GmbH, which both will be fully owned by Handheld Group. TimbaTec's annual revenues are today approx. 3 million euro (4 mUSD).
"This is a strategically very important acquisition for the Handheld Group", said Jerker Hellstrm, CEO of Handheld Group. "The German speaking markets are the largest and most important markets for rugged mobile computers in Europe, and we believe that we can accelerate our growth in Central Europe by applying our successful and proven business and marketing models to these two new subsidiaries."
"With TimbaTec we get a very competent team, and a valuable network of existing clients right from the start. TimbaTec has been providing Central European customers with rugged solutions for many years, and their commitment to their customers is in line with our core values."
"Germany, Austria and Switzerland have a high degree of mobile computer proficiency and usage in many sectors like manufacturing, forestry and public transport. The timing of this acquisition is right for us after a very successful year in every respect", concludes Jerker Hellstrm.
Handheld Germany will be managed by Helmut Feurhuber and Handheld Swiss will have Andreas Hitz at the helm. As a result of the acquisition, Handheld will have a local service center in Germany and Switzerland.
Handheld has gained market share for its range of smartly designed and cutting edge rugged notebooks, laptops and PDAs eight years running and was recently named as one of the 100 most innovative technology companies in the world by Red Herring The new offices in Germany and Switzerland will be number seven and eight alongside the group's existing offices in Sweden (headquarters), Finland, the Netherlands, Italy, Australia and the USA.
Handheld's line-up of rugged PDAs and mobile computers are specifically developed for use in tough environments in industries such as mining, geomatics, logistics, forestry, public transportation, construction, utilities, maintenance, military and security.
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