SKIDATA sells 25% stake in production partner Digital Elektronik and announces joint venture with Indian distribution partner Hinditron-SKIDATA
Groedig/Salzburg (Austria).– SKIDATA AG, a subsidiary of the Swiss Kudelski Group and world leader in physical access solutions, announces that it has sold its 25% stake in production partner Digital Elektronik GmbH to CARA Beteiligungs-GmbH, a wholly owned subsidiary of A. u. R. Auer Privatstiftung. However, the excellent cooperation between SKIDATA and Digital Elektronik will continue.
The sale is in line with SKIDATA’s strategy of focusing on its core competencies in research & development. SKIDATA’s other strategic objective is the systematic expansion of its market presence worldwide.
Joint venture with Indian distribution partner Hinditron-SKIDATA
SKIDATA has acquired a 49% stake in its local Indian distribution partner Hinditron-SKIDATA to form a joint venture, with an option of increasing its stake in the future. Nimish Sonawala, managing director of Hinditron-SKIDATA, will continue to head the company, which will be known as SKIDATA (India) Pvt. Ltd. This move follows SKIDATA’s highly successful market entry in India and the conclusion of contracts with major Indian hub airports and prestigious shopping malls. Further projects are already in the pipeline.
“Strategic worldwide growth – both organic and inorganic – remains a key objective for us,” says Charles Egli, CEO of SKIDATA AG. “Joining forces with Hinditron will allow us to strengthen our cooperation with the objective of growing our market presence in this high-potential market.” Nimish Sonawala says, “This joint venture will enhance our existing sales and support channels and serve as proof to the Indian customers that SKIDATA is going to be a long-term player in India.”
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