Funkwerk AG successfully completes sale of its Enterprise Communication business unit
Another milestone in the realignment achieved
The sales contract, which as reported was signed on October 18, 2011, was completed with Teldat S.A. of Spain and duly notarized on January 13, 2012, after fulfillment of all conditions precedent. The transaction covers Funkwerk Enterprise Communications GmbH in Nuremberg and its subsidiaries Funkwerk IP-Appliances GmbH (Nuremberg), Funkwerk Aphona GmbH (Vienna, Austria), Funkwerk Enterprise Communications France S.A.S. (Gradignan Cedex, France) and Funkwerk Enterprise Communications Italia S.R.L. (Milan, Italy), which thus are no longer part of the Funkwerk group and are deconsolidated.
With the successful closure, Funkwerk AG has achieved another milestone in the realignment of the group and its refocusing on its core areas. Since 2011 Funkwerk has concentrated exclusively on growth areas with strong margins and has spun off peripheral activities in order to bring company resources to bear more meaningfully and likewise optimize the organization's structure.
As reported, Funkwerk's annual financial statements for 2011 will noticeably reflect the realignment measures. Figures for the 2011 business year will be released on March 29, 2012.