Clearwater International advises Gigaset Communications on its sale to VTech Holdings Limited
Clearwater International has advised Gigaset Communications GmbH (Gigaset Communications), the market leader for DECT (Digital Enhanced Cordless Telecommunications) cordless phones in Europe, on the sale of its operational business to Snom Solutions GmbH, a 100% subsidiary of VTECH Holdings Limited (VTech), Hongkong, as part of an asset deal. Gigaset Communications has been under self-administration since 20th September 2023. The acquisition is expected to be completed on 2nd April 2024, subject to the fulfilment of the closing conditions.
Founded in 1941 and headquartered in Bocholt, Germany, Gigaset Communications, formerly known as Siemens Home and Office Communication Devices, is a one-stop-shop for integrated telecommunication devices and solutions. Gigaset Communications develops and designs DECT Phones, smartphones, professional B2B solutions, and smart home systems. The company employs approximately 850 people.
Based in Berlin, Snom as the acquisition vehicle, is a provider of VoIP-based information, telecommunication technology, and software. The company is a subsidiary of Hongkong based VTech, one of the global leaders in electronic learning products from infancy through toddlerhood and preschool, and the largest manufacturer of residential phones in the US. It also provides highly sought-after contract manufacturing services. Since its establishment in 1976, the company has been a pioneer in the electronic learning toy category. With advanced educational expertise and cutting-edge innovation, VTech products provide fun and learning to children around the world. Leveraging decades of success in cordless telephony, VTech’s diverse collection of telecommunication products elevates both home and business users’ experience through the latest in technology and design. As one of the world’s leading electronic manufacturing service providers, VTech offers world-class, full-turnkey services to customers in a number of product categories.
Through the acquisition of Gigaset Communications, VTech will be able to strengthen its leadership position in residential cordless phones, expand its market channels and product portfolios globally, and grow its manufacturing footprint in Europe. The acquisition also adds engineering talents to VTech’s global R&D teams, leveraging synergies in technological development of its products and operational efficiencies.
In 2016, the German team at Clearwater International already advised on the sale of Snom Technology to VTech.