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Mergers and Acquistions News

Categories: Hardware

March 6th 2009, 13:37PM

Sagem Communications has signed an agreement to acquire the broadband and WiMAX business of Gigaset Communications.

The deal marks the first takeover from Sagem since the hardware firm itself was acquired by the US-based private equity firm the Gores Group in January 2008.

For Sagem, the purchase is in line with a strategy of boosting its position as a broadband provider and the firms hope it will be able to access new technologies and attain new customers.

Through the transaction, Gigaset hopes to consolidate its core business as a cordless phones provider.

Commenting on the acquisition, president of Sagem Communications Patrick Sevian said: "We firmly believe that the global customer footprint and the excellent research and development capabilities of Gigaset will significantly enhance our positioning and the value we provide to our customers."

A subsidiary of the technology group SAFRAN, Sagem manufactures hardware such as mobile phones and broadband technology and employs 6,570 people on five continents.
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