VTech to Acquire Assets of Gigaset Communications GmbH [Yahoo! Finance]
VTECH HOLDINGS UNSP/ADR (VTKLY)
NASDAQ:AMEX Investor Relations:
vtech.com/en/investors
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Source: Yahoo! Finance
HONG KONG and BOCHOLT, Germany Jan. 24, 2024 /PRNewswire/ -- VTech Holdings Limited ("VTech", HKSE: 303), a global leader in electronic learning products from infancy through toddler and preschool and the largest manufacturer of residential phones in the United States , today announced that Snom Solutions GmbH, its indirect wholly-owned subsidiary, has entered into an Assets Purchase Agreement to acquire the assets (including the manufacturing facilities located in Bocholt, Germany ) of Gigaset Communications GmbH ("Gigaset"). Gigaset is the market leader for DECT (Digital Enhanced Cordless Telecommunications) cordless phones in Europe . It also provides business telephony solutions for enterprise customers, Android-based mobile communications as well as cloud-based smart home offerings for private and business customers. Through the acquisition of Gigaset's assets, VTech will be able to strengthen its leadership position in residential cordless phones, expand its market channels a
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