u-blox expands with the acquisition of Fastrax

October 30, 2012 // By Julien Happich
u-blox has announced the acquisition of privately owned, Finnish-based Fastrax Oy, a company that specializes in a broad range of GNSS positioning and antenna modules.

The company brings additional products to u-blox' portfolio, including software GNSS solutions used for consumer and industrial applications, and advanced GNSS modules that include integrated antenna.

“Over its 12 year history, Fastrax has established itself as a successful player in the global positioning markets worldwide,” said Thomas Seiler, u-blox CEO. “Their modules exploit the best features of four leading GNSS chip vendors and include advanced antenna modules. These products are an excellent complement to our existing portfolio, and will benefit from u‑blox’ economy of scale in terms of our advanced R&D capabilities, semiconductor technologies, global sales channels, established supply chain and high-volume manufacturing resources.”

The acquisition entails purchase of 100% of the shares of Fastrax Oy at a price of 13.0 million Euros. Certain pay-out rules apply to Fastrax management members. We expect revenue of around CHF 2 million and an EBIT of CHF 0.1 million for the remainder of 2012, and revenue of CHF 13 to 15 million with an accretive EBIT margin of 15-20% for 2013.

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