Ascom sells its Traffic business unit to Annax
Ascom is selling its Traffic business unit in Switzerland to Annax of Germany, thereby successfully implementing the strategic focussing of the Division Security Solutions announced by Ascom in autumn 2007. Traffic has been part of Ascom's discontinued operations since November 2007.
Annax will take over the business activities and employees of the Traffic business unit. This covers mobile passenger information systems for public transport (Railvox), train communication systems (Railnet), control systems for communications, information and monitoring applications, and mobile and stationary display systems for rail operators.
Headquartered in Taufkirchen near Munich, the Annax Group (www.annax.de) is a leading manufacturer of mobile display systems and was founded in 1996 when Bosch Group divested its Display Systems unit. With this acquisition Annax will strengthen its market position in Switzerland: a position the Group intends to expand further in future.
The parties have agreed not to disclose the purchase price.
Riet Cadonau, Ascom CEO, comments: "With the sale of the Traffic business unit we can rapidly implement the strategic focussing of Security Solutions which was announced in autumn 2007. I am delighted that we have found in Annax a partner that offers an excellent solution not only for customers but also for employees."
Ascom is an international solution provider with comprehensive technological know-how in mission-critical communication. The company specialises in Wireless Solutions (high-value, customer-specific on-site communications solutions) and Security Solutions (applications for security, communication and control systems for infrastructure operators, public security institutions and the army). Ascom has a wealth of experience in implementing complex projects for discerning customers in important key markets. Offerings range from analysis and consulting to system design and system integration, project management, engineering and implementation, right through to maintenance and support. Ascom registered shares (ASCN) are listed on the SWX Swiss Exchange in Zurich.
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