Key facts
- Ennoconn Corp launched a takeover bid for Kontron.
- The offer values Kontron at 1.47 billion euros ($1.7 billion).
- Ennoconn is Kontron's largest shareholder and crossed the 30% ownership threshold.
- Kontron provides IoT services globally and has about 7,000 employees.
Taiwanese technology firm Ennoconn Corp has initiated a takeover bid for Austrian company Kontron, offering 23.50 euros per share to all shareholders. This offer values Kontron at approximately 1.47 billion euros ($1.7 billion), representing a 4.2% premium over its last closing price.
Kontron announced that it would suspend its share buyback program and review Ennoconn's offer. The mandatory bid was triggered after Ennoconn, already Kontron's largest shareholder, crossed the 30% ownership threshold on Wednesday.
Kontron specializes in Internet of Things (IoT) services, serving industries from automation to advanced communications across 23 countries with a workforce of about 7,000 employees. The company reported first-quarter revenue of 363.7 million euros and anticipates adjusted EBITDA of 225 million euros by 2026, alongside plans to reduce its workforce by 500 employees.
Ennoconn's own services include integrated cloud management, IoT solutions, and design-manufacturing capabilities.