IoT News

Advantech has announced that it has finalised its acquisition on block shares of AURES Technologies SA. On October 1st, 2024, Advantech has closed block trade of 1,430,381 shares from the major AURES shareholder and subscribed the first tranche of convertible bonds of EUR 2,500,000 of principal amount.

Following this acquisition, AURES will operate under the new brand name “ADVANTECH-AURES”, reflecting the collaboration between the two companies. The new brand will honour the spirit and value proposition of AURES while being empowered by Advantech, and will debut on the market with a clear mission to provide value-driven products and services. The goal of ADVANTECH-AURES is to initiate growth from the retail and hospitality sectors and expand its products and solutions into the broader intelligent city services market.

MC Chiang, the newly appointed CEO of AURES and vice president of Advantech service-IoT group, stated that this partnership enables both companies to use their combined expertise to enhance product offerings and expand into rapidly changing markets. AURES has a strong heritage of product innovation and leadership, with well-established brand and channel networks across Europe, Australia and the US, complemented by service support through RTG in the US. Through this collaboration, ADVANTECH-AURES aims to deliver a broader range of product portfolios, focusing on quality, design and integrated AIoT solutions.

Patrick Cathala, the founder and chairman of AURES, said, ”For 35 years, we are proud of what our team has accomplished and AURES has been dedicated to creating high-quality products and serving our customers with passion. This collaboration is built on a foundation of meticulous planning and a shared vision for future growth. With the Advantech-Aures partnership, we are entering an exciting new phase alongside Advantech. Together, we are stronger.”

The completion of block trade on October 1st, would result in the mandatory filing by Advantech of a tender offer with the French Autorité des marchés financiers (the AMF) on all the outstanding shares of AURES not held by Advantech, with the exception of treasury shares, on the same financial terms as the Share Acquisition, i.e. at a price of EUR 6.31 per share.

Comment on this article below or via X: @IoTGN and visit our website IoT Global Network