Taipei City, Taiwan, April 20, 2016 – Flytech Technology (TWSE: 6206) proudly announces the acquisition of 100% of the shares in Box Technologies Ltd., a leading systems technology solution provider in the UK, for 12 Million Pounds. By acquiring Box Technologies, Flytech will gain three fully-owned companies: Box Technologies, Box Technologies-SWEDEN and Box-Technologies-NORWAY.
Both Flytech Technology and Box Technologies have signed a sale and Purchase Agreement (SPA) today. After the acquisition is completed, Box Technologies key management team will remain the same, and will work closely with Flytech to exploit synergies by leveraging Flytech’s extensive know-how in product development and design, and manufacturing competence, for Point-of-Sale terminals (POS), mobile/tablet devices, Industrial Panel PC’s (PPC) and self service / Kiosk products.
Through this acquisition, Flytech Technology will expand its market share in the UK and Northern European markets, especially in the vertical sectors of retail, hospitality, transportation, banking/finance, energy and government. Furthermore, the deal will enhance Flytech’s product design know-how amid UK’s advanced applied technology environment and keep Flytech Technology in a global leadership position. The acquisition is expected to be completed shortly.
Box Technologies was founded in 1992. Since then, Box Technologies has become a leader in the UK by providing customer engagement technology solutions including its 4 technology platforms: self service kiosk, mobile/tablet, fixed EPOS and digital signage. Box Technologies is a leading player in the UK market as well as Ireland, Sweden and Norway where sales and technical support operations are well established. Box Technologies has a vast portfolio of standout customers such as Poundland, House of Fraser, An Post, Spar, Dell, Xerox, Kath Kidston, Watches of Switzerland, Vision Express, Barclays, Harrods, Gina Tricot, Clas Ohlson and more, many under its own branded ‘Cielo’ products and services.
Flytech Technology’s President Mr. James Liu stated that “Partnering with leading technology experts in different geographical regions has always been a strategy for the company. Flytech has a long term leading position in both Europe and America and the acquisition of Box Technologies, with whom it has worked and traded for almost 20 years, is a perfect example of Flytech’s capability to identify and co-operate with an elite experienced management team in Europe and expand our footprint. Box Technologies can leverage Flytech’s expertise in product design and manufacturing capability to create a strategic synergy”.
Box Technologies’ Chairman Mr. Russell Willcox said that “We have always had the utmost respect for Flytech as the leading player in our technology arena. We are very excited to bring together our experience in European markets, from both a market knowledge and product/service development perspective, with Flytech’s industry leading and world class product development and manufacturing facilities. These two forces, now connected, will empower Box to offer further products and services to our customers and enhanced development resources, to further innovate in the exciting and rapidly developing world of customer engagement technologies”