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Proximion becomes part of Hexatronic Scandanavia

Proximion AB, which specializes in dispersion compensation modules (DCMs) and other products based on fiber Bragg gratings (FBGs), has agreed to be acquired by Gothenburg-based Hexatronic Scandinavia AB (NASDAQ OMX First North: HTRO).



Terms of the deal were not disclosed.

Hexatronic operates several companies involved in various aspects of optical communications technology development and provision. Proximion says it will continue as an independent company within the Hexatronic group, with the opportunity to leverage potential synergies with other Hexatronic companies.

Other companies within the Hexatronic ecosystem include Hexatronic Cables & Interconnect Systems AB, Hexatronic Elektronik & Data, The Blue Shift AB (which is active in FTTx products), and Memoteknik (which offers product development services). Combined, they produce products for fiber-optic network operators, dark fiber providers, system vendors, resellers, and system integrators.

“The advantage of becoming part of larger group controlled by Hexatronic was the key reason for this transaction,” said Martin Åberg, CEO at Proximion. “We gain access to a larger sales channel network and as a supplier the combined product portfolio increases the product offering which will benefit our customers. We also see an interesting growth potential both organically and through acquisitions that is enabled by being part of a larger listed industrial entity.

“As my insight into the Hexatronic group has increased during the process I have become convinced that the possibility for us to improve our product offering and further international expansion will be reinforced as a part of the Hexatronic group,” Åberg concluded.
 

August 15, 2014