Funkwerk takes over SISS's train radio activities

Kölleda, 19 May 2020 - Funkwerk AG (ISIN: DE 0005753149), one of the leading technology providers of professional communication, information and safety systems, is taking over the activities of the train radio business unit of STRABAG Infrastructure & Safety Solutions GmbH (SISS), Vienna, as part of an asset deal. SISS, a 100% subsidiary of STRABAG AG, Vienna, generates annual sales of around EUR 3 million in this area and specialises in technical infrastructure solutions as well as safety and communication systems, including in the field of train radio. The purchase agreement signed today includes the approximately 20 employees working in this business segment, the fixed and current assets of SISS allocated to train radio, all products and product rights as well as the existing order backlog. The parties have agreed not to disclose the purchase price.

With this acquisition, the Funkwerk Group is expanding its outstanding position in mobile radio systems for the railway sector (train radio) in particular. Funkwerk offers tailor-made solutions for voice and data communication via analogue and digital (GSM-R, 3G/4G/5G) mobile radio networks, which are in use in more than 40 countries worldwide. In particular, the acquisition will enable Funkwerk to expand its customer base and thus the number of existing train radio systems.

The agreement contains conditions precedent, and the closing is expected to take place in summer 2020.