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Disposal of its entire shareholding of EtherWAN Systems, Inc. according to a resolution of Board of Directors of Axiomtek Co., Ltd.

13/04/2017

On April 10th, 2017, according to a resolution of its Audit Committee and Board of Directors, Axiomtek Co., Ltd. (hereinafter referred to as “the Company”, “Axiomtek”, or “the Seller”) disposed of its entire shareholding of EtherWAN Systems, Inc. (hereinafter referred to as “EtherWAN”, a subsidiary of Axiomtek) for a German company Elektrophoenix GmbH (hereinafter referred to as “Elektrophoenix” or “the Purchaser”, a subsidiary solely owned by Phoenix Contact GmbH & Co. KG (hereinafter referred to as Phoenix Contact)) to acquire them. On April 11th, 2017, Axiomtek and Elektrophoenix have officially signed the Share Purchase Agreement. Upon the approval of the foreign investment is granted to the Purchaser by Investment Commission of Ministry of Economic Affairs, the Seller and the Purchaser will be proceeding to transfer of shares and transfer of funds which is to be completed by the end of May 2017. The Chairman of Axiomtek is being fully authorized to handle any subsequent matters relevant to the disposal of the subject investment.

 

"Especially in view of the digitalization, industrial communication becomes more and more important", says Roland Bent, CTO of Phoenix Contact. Axiomtek and Phoenix Contact could complement each other perfectly with their different strengths in different markets and different industrial industries.

 

"Both Axiomtek and Phoenix Contact shall continue their bilateral exchange towards the objective of Industrial Internet of Things and Industry 4.0 following the sale of shareholding of EtherWAN by the Company", said Mr. YT Yang the Chairman and CEO of Axiomtek. Specifically, a cooperative Memorandum of Understanding (MOU) between Axiomtek and Phoenix Contact is to be entered into so that both parties may further enhance their business exchange and strategic communication as well as promote their business development and industrial competitiveness by fully leveraging their reciprocal cutting-edge in their professional expertise, resources in vertical application market, and advantage in a multitude of clientele, so as to acquire mutual benefit and win-win situation.