Audico acquires Electrosonic AB in Sweden

Audico acquires Electrosonic AB in Sweden
Audico Holding Oy, owner of Audico Systems Oy - a company offering AV technology has acquired Electrosonic AB in Sweden. Electrosonic AB specialises in installation of AV control room solutions, which also form a core part of Audico's business.

The acquisition opens up an opportunity for Audico to increase the export of their own Avec - PA/VA systems technology to Sweden.

The transaction involves Audico Holding Oy, the parent company of Audico Group acquiring 100% of Electrosonic AB. Electrosonic AB was a Swedish subsidiary of the global Electrosonic Group.

“AV and control room systems that are critical operations to public administration and companies, are an important area of business for Audico. This acquisition brings us valuable competence, since Electrosonic has long-term experience in and excellent knowhow on precisely this segment, “ says Harri Leiva, CEO of Audico Systems Oy.
                                                                                                         
The transaction also adds to Audico's expertise on producing servicing and maintenance services of AV and control room systems.

“The significance of servicing and maintenance is constantly increasing. Faultlessly functioning systems are becoming more and more important to end-users. “

Electrosonic is not an unfamiliar company to Audico: in 2010, Audico bought Electrosonic Group's business activities in Finland.

“This acquisition is a sign of trust and a natural continuation to our long-lasting cooperation with Electrosonic Group. Our goal is to further develop and expand the activities of both Audico and Electrosonic AB. We aim to become the market leader in supplying control systems and their maintenance services in the Nordic Countries, “ Harri Leiva explains.

Audico's product portfolio contains their own Avec voice evacuation systems, designed and manufactured by Audico in Finland, as well as products supplied by an international partner network and imported by Audico. The announced transaction does not affect the import agreements made by either Audico or Electrosonic AB.

“The acquisition enables us to expand the export of the technology we have developed and manufactured. We will invest in marketing, sales, and technical support of our Avec voice evacuation systems, and will recruit more sales and technical personnel in Sweden, “ says Harri Leiva.

Electrosonic AB will continue its operations as a subsidiary of Audico Holding Oy. The acquisition does not affect the employment of the personnel, contracts, or customer service.





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