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Laird Technologies, a designer and manufacturer of electromagnetic interference (EMI) shielding materials, thermal management products and wireless antenna solutions, announced it acquired all assets of RecepTec LLC and all outstanding shares of RecepTec GmbH for $89 M. The purchase broadens Laird Technologies' breadth of antenna products for telematics applications.
RecepTec is a designer of antennas and related products for satellite radio reception in vehicles as well as having world-class antenna products for vehicular cellular communications, vehicle navigation, AM/FM radio reception and European Digital Audio Broadcasting (DAB).
"The quality of RecepTec's telematics business complements our growing antenna product portfolio," said Martin Rapp, CEO of Laird Technologies. "The combination of the two companies makes Laird Technologies uniquely positioned to expand the combined businesses in the rapidly growing telematics sector."
Operating design centers in Holly, MI and Hildesheim, Germany, RecepTec employs more than 70 people designing and integrating high performance multiband antenna solutions into vehicle platforms for many major OEM auto manufacturers and aftermarket satellite radio antenna products.
"By becoming part of Laird Technologies, we now have a broader geographic footprint, more engineering resources and greater financial strength, all of which help us deliver leading-edge solutions to our customers globally," said George Caston, founder and president of RecepTec.