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VTech to absorb Gigaset as acquisition agreement reached

Take a last look at this logo, you may never see it again. (Source: Gigaset)
Take a last look at this logo, you may never see it again. (Source: Gigaset)
Gigaset accounts itself Europe's "market leader" in DECT products - however, it is also in dire financial straits and in need of a life-line. Fortunately, it has now secured one in the form of a buy-out agreement with VTech, a big name in fixed-line phones (and also children's tech) in the US. The acquisition is touted to generally benefit the former while allowing the latter to move on with its corporate journey.

Gigaset is responsible for some of the most unique Android handsets of the 2000's as they launched with removable batteries and were, furthermore, made in Europe. However, not even that line of business has been enough to save it from the massive financial problems with which it has been plagued.

The firm - which also describes itself as Europe's "market leader for digital enhanced cordless telecommunications (DECT) cordless phones" (such as this "elegant" Comfort 552 handset available for $59.99 on Amazon right now) - has now found a buyer for its remaining assets.

VTech, the self-declared "largest manufacturer of residential phones in the United States", is also known for e-learning tech for small (up to pre-school) children (like this KidiStar DJ Mixer Black currently starting at ~$53 on Amazon).

The company will acquire Gigaset's remaining holdings, its German factory in Bocholt included, in accordance with a "strategic acquisition" process currently projected to be complete by April 2, 2024.

Neither party has divulged the amount of money involved, with VTech simply noting that it will derive any funds involved from "internal sources".

Current Gigaset CEO Dr Magnus Ekerot is confident that the agreement will allow the company to maintain its links with existing customers while attracting and retaining new business.

For its part, VTech will stand to augment its existing R&D and production capabilities with personnel formerly employed at its new subsidiary.


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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2024 01 > VTech to absorb Gigaset as acquisition agreement reached
Deirdre O'Donnell, 2024-01-24 (Update: 2024-01-24)