Acquisition of XQAND

Kölleda, 24 August 2017 - Funkwerk AG has strengthened its range of software services: the medium-sized technology group based in Kölleda, Thuringia, has acquired the activities of XQAND (Bremen) via an asset deal. The northern German company specialises in modern software-as-a-service solutions in the Industry 4.0 environment.

The Funkwerk Group gains further development expertise and engineering know-how through the takeover. The name XQAND stands for modern service concepts for digital end devices with a focus on physical security technology.

Highly innovative technological solutions and digital expertise characterise the team at the new Funkwerk unit. As a Funkwerk Group company, XQAND will develop intelligent cloud-based software applications that form the basis for new digital service concepts.

In order to achieve this goal, it is planned to further strengthen the team at the Bremen site over the coming months and to integrate XQAND technology into new vertical markets.