Burgess Hill, United Kingdom, September 21, 2007 --(PR.com
)-- Technetix Group Ltd (Burgess Hill, West Sussex, UK) the leading European broadband cable and telecommunications equipment supplier announces today that they have completed the acquisition of 100% of the shares of Foentel Telecomunicaciones SL (Zaragoza, Spain). It is the intention of Technetix to merge this business with its existing Spanish operation Tratec Telecom España, broadening the depth and reach of its world class engineering solutions and integrated supply chain business within Spain.
The demands of the market in Spain have evolved rapidly in recent years as network operators have developed and rolled out sophisticated triple-play extreme speed broadband, voice and digital TV services. The Technetix Spanish operation and Foentel are important suppliers to all the leading Spanish broadband operators including ONO, Telefónica, Euskaltel, R and Telecable and this development will strengthen the Group's product and service offer to these customers.
Technetix´ joint Spanish operation is likely to have a total combined annual turnover in excess of €11m and it is expected to grow substantially in the coming years by exploiting the cross-selling opportunities which will follow from the integration of sales and product management teams. The new Technetix Spain will employ twenty staff.
Paul Broadhurst, CEO of Technetix Group, said, “We are delighted with this development as Technetix in Spain and Foentel have very complimentary skills. Foentel will add many key services to our well established offering of engineering, supply chain and fulfillment in broadband communications. This new addition provides exciting opportunities for all our customers with a much enhanced range of products and services.”
Rafael Calonge, Managing Director of Foentel stated, “We are very excited by the opportunity of combining forces with Technetix’ extensive pan-European sales network and the opportunities provided by Technetix Group’s substantial engineering resources and experience. The combination will expand the strategic position of the new Technetix Spain with all Spanish operators”.
Paul Broadhurst/Amaia Echevarria
Technetix Group Ltd
T +44 1444 251200
Tim Thompson/ James Strong/Jeremy Garcia
T +44 207 466 5000