Strax has completed the acquisition of the majority shareholdings in two entities who are contracted to develop, distribute and sell Vodafone branded accessories to Vodafone in Western Europe, Middle East and Africa. Strax brings significant knowledge on product development & manufacturing, portfolio management, marketing and sales strategies as well as sourcing and quality assurance capabilities.
The acquisition of 50.1 percent ownership in Celcom HK and Mobile Accessory Club provides a unique access to partner with Vodafone to create what we believe will be one of the strongest lines of accessories for mobile phones and tablets for Vodafone’s target market.
“I am convinced that these acquisitions will be very beneficial for both Strax and Vodafone. Our initial cooperation has already delivered some promising results and I look forward to building a mutually beneficial long term partnership with Vodafone”
says Gudmundur Palmason, CEO, Strax AB.
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.
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 1:15 pm CET on November 22 2016.