Thrane acquiring Naval Electronics AB
MARITIME INDUSTRY: Thrane & Thrane has signed an agreement to acquire Naval Electronics AB. The acquisition is consistent with the company's strategy to introduce new maritime products that will expand its product portfolio, strengthen the market position and enhance growth.
The acquisition means that Thrane & Thrane gains access to a new product area as Naval offers professional equipment for TV reception and distribution onboard vessels. The product line includes newly developed tracking satellite antennas, socalled TV-RO ('TV Receive Only'), targeting commercial vessels. All products complement Thrane & Thrane's existing portfolio which currently does not include TV systems.
In addition to Naval's existing distribution, Thrane & Thrane intends to market the new products through its global distributor network, thereby generating opportunities for further growth. The company thus expects additional revenue of around DKK 30 million in the 2009/10 financial year with revenue rising in the subsequent years.
Thrane & Thrane and Naval will use the coming months to draw up a plan for integration and further development of the activities.
Founded in 1971, Naval Electronics AB (www.naval.se) has spearheaded the development of maritime TV antennas and distribution solutions by continuously developing products for use in connection with different TV systems globally.
Based in Malmoe, Sweden, Naval has 15 employees. It is owned by Lars Risberg, its managing director and founder. Naval generated revenue of around SEK 30 million in 2008 with operating profit of around SEK 7 million.
Kilde: Thrane & Thrane
