KATEK to acquire SigmaPoint Technologies
Cornwall Ontario – A European electronics leader is in the process of acquiring SigmaPoint, a deal that will bring benefits to both companies.
KATEK SE has signed a comprehensive and exclusive term sheet for the acquisition of all shares of Cornwall-based SigmaPoint Technologies. Once the agreement is concluded, SigmaPoint becomes the North American production division of KATEK and adds to their complement 15 other global sites. SigmaPoint’s name and business unit will remain unchanged. CEO and President Dan Bergeron, along with the entire management team, will continue to lead SigmaPoint after the acquisition.
“We look forward to partnering with KATEK Group,” said Daniel Bergeron, CEO of SigmaPoint. “Our two companies have a lot in common, including our work culture, our customer-centric values and our lean principles.”
SigmaPoint is one of Canada’s leading electronic service providers and is recognized for decades of high quality production based on strict Lean principles in the field of high value electronics. In addition to the medical, industrial controls, embedded electronics and IoT sectors, SigmaPoint opens up new markets for KATEK in the homeland security and defense sectors.
“As Europe’s third-largest e-services provider, we deliver on the promise to our European customers of a presence on the North American continent,” says KATEK CEO Rainer Koppitz. “The very good match between corporate culture and values was also decisive. This will make it much easier to take advantage of the significant synergies that exist in the areas of sales, supply chain and lean manufacturing. »
Mr. Bergeron sees the merger as a milestone for SigmaPoint that few companies ever achieve. Becoming the first KATEK Group company in the US market is a testament to the exceptional SigmaPoint team and rapidly evolving business.
“I am extremely proud of our 280 employees and I am incredibly excited about the potential that will open up for our customers, the team and the local community in the years to come,” notes Mr. Bergeron. “Our partnership represents an extension and strengthening of our supply chain, design support, rapid prototyping and global distribution services.”
Negotiation of the associated share purchase agreement is expected to close shortly with expected closing no later than the end of the second quarter. The transaction is subject to the necessary official approvals, such as competition authorities.
SigmaPoint is currently recruiting to fill open positions. You can find job postings on the ChooseCornwall.ca job board:
About SigmaPoint Technologies
SigmaPoint Technologies is an electronics manufacturing services (EMS) partner that provides end-to-end assembly services for complex electronic products in the IT, telecommunications, defense, alternative energy, medicine, industry and transport. The company is headquartered in a state-of-the-art manufacturing building in Cornwall’s Business Park.