Funkwerk AG acquires 60% in Polish Radionika Sp.z.o.o

PRESS RELEASE

• - Funkwerk AG acquires 60% in Polish Radionika Sp.z.o.o.
• - Expansion of international expertise in train radio

Kölleda, 27 April 2023 - Funkwerk AG, one of the technologically leading providers of professional communication, information and security systems as well as technical services, has acquired a 60% in Radionika Sp.z.o.o., Krakow/Poland. The sellers are the previous minority shareholders and the current main shareholder, who will continue to work for the company as managing director.

Radionika specializes in the development and manufacture of train radio terminals under the Koliber brand and radio communication systems for railway infrastructures. Over the last four years, the company, which employs around 20 people, has generated average sales in the mid-single-digit million range and a good EBIT margin. The contract was signed yesterday evening. It contains conditions precedent and the closing is expected to take place by mid of May 2023. The parties have agreed not to disclose the purchase price.

The takeover will enable Funkwerk AG to expand its development resources and sales options and strengthen its international position in mobile communication systems for railway transport. "We are delighted that the highly competent Radionika team will be part of our group of companies in the future," said Kerstin Schreiber, spokeswoman for the Executive Board of Funkwerk AG. “Radionika's products expand our portfolio of solutions and our market access, especially in Eastern Europe."

For further information please contact:

Funkwerk AG, Im Funkwerk 5, 99625 Kölleda, Tel.: +49 3635 458 500,
Fax: +49 3635 458 399, E-Mail: ir@funkwerk.com

Contact to the media:
Redaktionsbüro tik GmbH, Claudia Wieland, Tel.: +49 911 9597871, info@tik-online.de