Advantech, a pioneer in AIoT, announces that it has finalized its acquisition on block shares of AURES Technologies SA, a French company renowned for its POS and Kiosk brands. On October 1st, 2024, Advantech has closed block trade of 1,430,381 shares from the major AURES shareholder and subscribed the first tranche of convertible bonds of EUR 2,500,000 of principal amount.
Following this acquisition, AURES will operate under the new brand name “ADVANTECH-AURES”, reflecting the collaboration between the two companies. The new brand will honor the spirit and value proposition of AURES while being empowered by Advantech, and will debut on the market with a clear mission to provide value-driven products and services.
Rapidly changing markets
The goal of ADVANTECH-AURES is to initiate growth from the retail and hospitality sectors and expand its products and solutions into the broader intelligent city services market, with the vision of becoming a leading player in this field.
The goal of ADVANTECH-AURES is to initiate growth from the retail and hospitality sectors
MC Chiang, the newly appointed CEO of AURES and Vice President of Advantech Service-IoT Group, stated that this partnership enables both companies to leverage their combined expertise to enhance product offerings and expand into rapidly changing markets. AURES has a strong heritage of product innovation and leadership, with well-established brand and channel networks across Europe, Australia, and the US, complemented by service support through RTG in the US. Through this collaboration, ADVANTECH-AURES aims to deliver a broader range of product portfolios, focusing on quality, design, and integrated AIoT solutions.
Creating high-quality products
Reflecting the journey that began in October 2023 when AURES and Advantech first forged their partnership, Patrick Cathala, Founder and Chairman of AURES, said, ”For 35 years, we are proud of what our team has accomplished and AURES has been dedicated to creating high-quality products and serving our customers with passion. This collaboration is built on a foundation of meticulous planning and a shared vision for future growth. With the Advantech-Aures partnership, we are entering an exciting new phase alongside Advantech. Together, we are stronger.”
The completion of block trade on October 1st, would result in the mandatory filing by Advantech of a tender offer with the French Autorité des marchés financiers (the “AMF”) on all the outstanding shares of AURES not held by Advantech, with the exception of treasury shares, on the same financial terms as the Share Acquisition, i.e. at a price of EUR 6.31 per share.
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