SVI Finalizes Acquisition of Seidel Electronics
PATHUMTANI, THAILAND -- SVI Public Co. has acquired Seidel Electronics, an Austria-based EMS company with plants in Austria, Hungary, Czech Republic and Slovenia.
Terms of the deal have not yet been disclosed. However, SVI said the purchase price is less than 15% of its annual revenue and the company is not required to disclose further details.
SVI had sales of $167 million year to date through September, the last quarter it has currently reported.
Seidel has more than 600 employees and an annual turnover of more than EUR 90 million ($98.5 million). The company also has minority interests in a pair of product design and development companies in Austria and Slovenia.
SVI said the acquisition will bolster its presence in Europe, where it currently is "under-penetrated."
SVI had indicated the pending acquisition last December, although at the time it did not disclose Seidel's name.
