Strax has under the previous contract with D3O® successfully launched products with D3O patented impact protection technologies in several markets. The extended exclusive three year contract grants STRAX rights to integrate D3O into smartphones, tablets and consumer electronic accessories, plus global distribution rights across both online and offline channels.
“The trend for slim protective products is strong across all the markets we operate in. The strategic partnership with D3O has proven very successful in the markets where we have launched products, for example, cases introduced under our own Gear4 brand have become the number one selling premium protective product range in the UK and has enabled us to secured listings with several major customers in the US. The licensed D3O material has proven to be superior in protective products for smartphones and tablets and a strong selling point clearly differentiating our products “
says Gudmundur Palmason, CEO, Strax AB.
“The extension of our partnership with Strax reinforces D3O’s commitment to deliver the most advanced impact protection solutions for mobile devices. Strax is a proven industry leader and we are delighted at how successful our launch products have sold in Europe to becoming market leaders already. I look forward to working closely together as we expand into the US and to bring new D3O® technologies and innovative impact protection solutions to the consumer electronics market”
says Stuart Sawyer, CEO, D3O.
For further information, please contact Gudmundur Palmason, CEO, Strax AB, +46 8 545 01750.
Strax is a global specialist within mobile accessories with own brands, such as Xqisit, Gear4, Urbanista, Flavr, Avo and Thor. The own brands are complemented with OEM brands, aftermarket brands, licensed brands and an end-to-end service offering. Strax is furthermore consistently growing its presence in connected devices, such as fitness trackers and smart home products. Strax’s offering is primarily targeted towards traditional retailers, telecom operators and online retailers. In total, Strax has in excess of 600 B2B customers worldwide, including customers such as Dixons Carphone, Staples, Swisscom, Telenor, T-Mobile and Amazon. Strax operates through subsidiaries in Germany, France, UK, Sweden, Norway, Denmark, the Netherlands, Switzerland, Poland, the US, Hong Kong and China. During 2015, Strax generated revenues of approximately SEK 748 million, representing an annual growth of approximately 18 percent compared to 2014. For the same period, Strax achieved an EBIT of approximately SEK 33 million. As of December 31st 2015 Strax employed 165 FTEs.
D3O uses unique patented and proprietary technologies to make rate-sensitive, soft, flexible materials with high shock absorbing properties that are used in a wide range of impact protection products, addressing a range of markets including electronics, sports, industrial workwear, motorcycle and military protection. Based on non-Newtonian principles, in its raw form, the material’s molecules flow freely, allowing it to be soft and flexible, but on impact, lock together to dissipate the impact energy and reduce the transmitted force. D3O continues to expand its sales, manufacturing capabilities and distribution in North America and recently announced the establishment of a US Legal Entity, D3O LLC, headquartered in Detroit. This move underscores the company’s continued growth in the US market. D3O is a portfolio company of the U.S. growth capital firm Beringea. Over 90% of the company’s revenues are export, with 60% of sales in the US, for which the company received a Queen’s Award for Enterprise for International Trade in 2014. The company was further recognised as one of the fastest growing private UK technology companies in the 2016 Sunday Times Hiscox Tech Track 100.
This information is information that Strax AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 3:00 pm CET on October 28 2016.