SKIDATA Sells Stake in Production Partner and Announces Joint Venture

SKIDATA has sold its 25% stake in production partner Digital Elektronik and formed a joint venture with Indian distribution partner Hinditron-SKIDATA.

Groedig/Salzburg (Austria) – January 19, 2009 – SKIDATA AG, a subsidiary of the Swiss Kudelski Group and world leader in physical access solutions, announces that it has sold its 25% stake in production partner Digital Elektronik GmbH to CARA Beteiligungs-GmbH, a wholly owned subsidiary of A. u. R. Auer Privatstiftung. However, the excellent cooperation between SKIDATA and Digital Elektronik will continue.

The sale is in line with SKIDATA’s strategy of focussing on its core competencies in research & development. SKIDATA’s other strategic objective is the systematic expansion of its market presence worldwide.

Joint Venture with Indian Distribution Partner Hinditron-SKIDATA
SKIDATA has acquired a 49% stake in its local Indian distribution partner Hinditron-SKIDATA to form a joint venture, with an option of increasing its stake in the future. Nimish Sonawala, managing director of Hinditron-SKIDATA, will continue to head the company, which will be known as SKIDATA (India) Pvt. Ltd. This move follows SKIDATA’s highly successful market entry in India and the conclusion of contracts with major Indian hub airports and prestigious shopping malls. Further projects are already in the pipeline.

“Strategic worldwide growth – both organic and inorganic – remains a key objective for us,” says Charles Egli, CEO of SKIDATA AG. “Joining forces with Hinditron will allow us to strengthen our cooperation in order to grow our market presence in this high-potential market.” Nimish Sonawala says, “This joint venture will enhance our existing sales and support channels and serve as proof to the Indian customers that SKIDATA is going to be a long-term player in India.”

About Digital Elektronik

Digital Elektronik GmbH (www.digital-elektronik.com) is a service provider in mechatronics and stands for utmost flexibility in the development and production of components and devices in accordance with customer specifications. Our production range includes PCB assembly, electronic and precision mechanical assemblies, device manufacturing, and lighting solutions based on POWER-LED technology.

About Hinditron

Hinditron Group of Companies (www.hinditron.com) is leader in the field of Information Technology, Instrumentation, High Performance Computing, IT Enabled Services and Access Control in India. Hinditron provides complete solutions to its clients a broad spectrum of industries in India and abroad. Its success in the last 40 years is due to its uncompromising commitment to its business associates, creating an environment to stimulate growth for its employees and sustained efforts to ensure lasting customer satisfaction. This has resulted in creating the right image and lasting visibility for Hinditron in the Indian industrial map.