Kathrein Group acquires TechnoTrend--February 23, 2009 14:59 GMT

Receiver manufacturer TechnoTrend has been purchased by Görler Telekom GmbH a subsidiary of the Kathrein Group in a deal reputed to be worth €10 million. The TechnoTrend brand name will continue and will be integrated into Kathrein’s sales effort.

The disposal of TechnoTrend by the Portuguese IT group Novabase SGPS follows the November 2007 withdrawal of plans to stage an IPO for the company.

“We will concentrate the know-how and development capacities available in the Kathrein Group on this field in the new company in order to create more vigour,” said Prof. Anton Kathrein. “With this takeover we are sending out a positive signal in economically difficult times and we are securing skilled jobs in Thuringia and Bavaria.”

Former TechnoTrend employees will be offered jobs within the new organisation following a company restructuring. Görler Telekom will also take on the patent rights associated with TechnoTrend.