Jotron announced that it has signed a contract with Zenitel for the sale of the Jotron Phontech portfolio.
Located in Horten, Norway, the Phontech portfolio specialises in intercom and PAGA solutions for the maritime, oil and gas markets. The Phontech portfolio is currently integrated in Jotron, and the transaction will be structured as an asset deal.
This contract is structured as a two-step transaction, with a closing subject to the fulfilment of the conditions.
The air traffic control (ATC) market has developed at a fast pace and Jotron is involved in an extensive number of global projects. Core technology and products in ATC radio, recorder, GMDSS and AIS safety is where Jotron will increase its focus.
Jotron managing director Meret Berdal said: “As a consequence of the demand in growth in the ATC market, and in the interests of maintaining a world leading company for maritime safety products, Jotron decided to look for a new owner for our Phontech portfolio.
“Zenitel is the natural choice. We believe Horten will gain an even stronger position by combining two major intercom and PAGA providers into one world leading player.”
Zenitel CEO Kenneth Dastol said: ““Phontech is a dynamic and flexible business organisation, specialised in intercom and PAGA solutions to the maritime, oil and gas markets. This strategic acquisition will strengthen Zenitel’s position as a world-wide market leader for intelligent critical communication solutions in the maritime industry.”
Both parties expect the contract to be closed before the end of 2018.