Etion Group has concluded the sale of its subsidiary Etion Create to Reunert Applied Electronics. Etion Create is now officially part of the Reunert Group of companies.
In May this year, Etion Group and Reunert announced the intended change of ownership, which was finalised and concluded on 3 October 2022. Through this action, Reunert has now acquired 100% of the issued shares in Etion Create.
Etion Create is in the process of integration into the Applied Electronics segment of the Reunert Group, and will provide it with original design capability for the design, integration and support of advanced technology in the mining and industrial, defence and aerospace, Internet of Things , sensors; and the cyber security market segments.
“Reunert wishes to expand its Applied Electronics segment and believes that the augmentation of its existing assets with the strategic positioning, value proposition and original design manufacturing skills of Etion Create will accelerate these ambitions,” the company said earlier this year.
Announcing the conclusion of the acquisition this month, Reunert and Etion Create said they “look forward to exploring further areas of collaboration now that Etion Create is part of Reunert Applied Electronics, to the mutual benefit of all our stakeholders.”
“Both Reunert and Etion Create view sustainable transformation as a cornerstone of our responsibility as corporate citizens. Therefore, continued improvement in Etion Create’s BBBEE level remains key for the future.”