Addtech acquires Electrum Automation AB

Addtech Electrification, a business area in the Addtech Group, has signed an agreement to acquire 100 % of the shares outstanding in Electrum Automation AB (“Electrum”).

Electrum develop, produce and sell mobile electronics and complete solutions to leading manufacturers of machines and vehicles. Electrum is headquartered in Umeå, Sweden, has 22 employees and annual sales of approximately SEK 80 million.

With its experience of electronics and software design and broad expertise in system integration, the company will complement Addtech's business unit Connectivity Solutions in a very good way.

Closing is expected to take place in early June. The acquisition is estimated to have a marginally positive impact on Addtech's earnings per share during the current financial year.

Stockholm, April 28, 2023

Addtech AB (publ)

For further information, please contact
Niklas Stenberg, President of Addtech AB, +46 470 49 00
Per Lundblad, Business Area Manager, Addtech Electrification, +46 70 795 66 02

Addtech is a technical solutions group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3,500 employees in more than 140 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 14 billion. Addtech is listed on Nasdaq Stockholm.

The information was submitted for publication, through the agency of the contact persons set out above, at April 28, 2023, at 08.30 a.m (CEST).