Technology provider Technetix has completed the acquisition of German broadband equipment business of ECAD.
Technetix said that the acquisition means that its customers would benefit from access to a greater range and depth of FTTH and broadband cable technology products, in Germany and globally.
It said the acquisition will enable accelerated growth and market traction for Technetix, with additional German offices in its network. The ECAD operation will become an integral part of Technetix, enabling the company to expand its portfolio, while providing a smooth transition to ECAD’s customer base, it said.
Paul Broadhurst, CEO of Technetix Group, said, “We are delighted with this acquisition as Technetix and ECAD have complementary businesses. We are committed to a swift and seamless integration and will continue to serve customers with innovative products and enhanced customer service. This purchase will expand Technetix’ business in Germany with the addition of ECAD’s very talented sales and engineering teams. We will also extend our range of FTTH products which we will be promoting globally.”
Volker Wieland, managing director, ECAD Group GmbH said, “Technetix and ECAD share the same philosophy around creating innovative products, an absolute relentless focus on quality and dedication to customer service. Technetix was the natural choice for continuing to grow ECAD’s broadband business. We are confident that the combination of both businesses will further drive innovation and give customers a wider and deeper choice of market leading products. Both Technetix and ECAD are committed to continue delivering on customers’ expectations without disruption or distraction throughout the transition.”
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