Clearwater International acted as sole financial adviser to HeidelbergCapital Private Equity and the Founder of Snom Technology AG (Snom) on the sale of 100% share capital of Snom Technology AG to Hong Kong listed VTech Holdings Limited (Vtech).
Founded in 1996, Snom is a multinational corporation, headquartered in Berlin, Germany. It was the world’s first, and remains one of the leading brands of professional and enterprise voice over internet protocol (VoIP) telephones. Snom’s German engineering is globally renowned for its robust, high-quality and feature-rich business telephones, that are designed exclusively for the trained and certified IT professional and private branch exchange (PBX) installer. All of Snom’s products are universally compatible with leading PBX platforms, operating under the session initiation protocol (SIP) standard, and sold through distributors to value-added resellers (VAR) across the world.
VTech is the global leader in electronic learning products from infancy to preschool, and the world’s largest manufacturer of cordless phones. It also provides highly sought-after contract manufacturing services. Founded in 1976, VTech has been a pioneer in the electronic learning toy category, with cutting-edge and innovative products that provide fun learning experiences to children across the world. By leveraging decades of success, VTech provides a diverse collection of telecommunication products that elevate the consumer experience with state-of-the-art technology and retail in over 76 countries. The group is also a leading electronics manufacturing service provider, offering world-class, full turnkey services to customers in a number of product categories.
The Clearwater International team was led by Managing Partner Markus Otto, Associate Director Gunther Haberkamm with support from Analyst Anton Ulrich.
C.H. Tong, President of VTech Telecommunications Limited said: “VoIP is the future of business communication and the industry is now transitioning to a cloud-based, unified, communications environment. As a pioneer in this field, Snom is constantly developing new and advanced IP technology solutions to meet the needs of businesses worldwide. The main synergies of the acquisition will be in hardware and software development, expanded market channels in VoIP telephony, and improvement in operational efficiency.”
Andre Deloch, Chairman of the Supervisory Board of Snom and Partner at HeidelbergCapital Private Equity added: “We are excited to be joining VTech, this will support our continued focus on developing and supplying the best business telephones in the world. The combination of VTech and Snom will strengthen the market position and technological leadership of both companies in the industrial IT services market.”
Markus Otto, Managing Partner, Clearwater International said: “VTech is the ideal partner for Snom to support the companies’ technology leadership position in SIP-based IP solutions. The acquisition enables the companies to leverage synergies in R&D capabilities, expanded sales network in Asia, Europe and the US as well as operational efficiencies.
We are delighted to have advised HeidelbergCapital and the Founder of Snom on this value-adding and industry-shaping transaction.
This is the latest deal Clearwater International’s Industrials team has completed within the Electronics & Industrials IT market. Clearwater has now completed 336 transactions in the industrials sector with € 10.1bn transaction value.”