Wentronic Holding to acquire all shares in Cellnet Group
October 16, 2023
ASX announces signing of agreement:
Important strategic step for expansion in NZ and AUS
Wentronic Group turnover doubles through acquisition
Wentronic Holding has acquired all shares in Cellnet that it does not currently own. According to the signed agreement, Cellnet will be fully integrated into the Wentronic Group as an inherent part. The decision was announced on the Australian Stock Exchange ASX.
Wentronic CEO Michael Wendt is confident the outcome will be positive:
“The reactions of the Cellnet staff as well as the Wentronic colleagues in Asia and Germany have been overwhelmingly positive. The upcoming privatisation promises stability and calm in the business for Cellnet and its partners.”
Strategic decision on both sides
The acquisition of Cellnet is a logical step for Wentronic to further tap into the markets in Australia and New Zealand. The merger will exploit synergies that will put both companies ahead of the competition: Cellnet is already a strong distributor in the retail sector, while Wentronic has great know-how in the e-commerce and marketplace business.
Maintaining existing strengths, gaining new strengths
will continue to offer its customers its wellknown strengths. Retail and telecommunications partners have been receiving an extremely competitive portfolio and first-class service from the Cellnet team for years. Wentronic’s expertise in e-commerce will help Cellnet to reach a much broader range of buyers in Australia and New Zealand.