Teleste said the acquisition would complement its offering of passenger information solutions for public transport, one of the company’s key focus areas.
The company said that a major aim of the transaction is to strengthen its capabilities as a provider of modular solutions that meet public transport operators’ demands for smooth and reliable delivery of passenger information.
Teleste’s current offering for this segment will be complemented by iqu System’s business, which consists of software solutions, displays and related services. The company also holds a firm position in the German public transport market, which will enable Teleste to increase its market reach and presence in the area.
Iqu, which has a strong customer base in Germany, Poland, Austria and Switzerland, is expected to post sales of €2 million this year. Teleste said that the acquisition will not have any significant impact on its financial figures in the current year.