Recently, Kathrein had already sold the vehicle antenna division to the automotive supplier Continental. Among other things, the company now retains control of the broadcast technology and satellite reception sectors.
The sale of its core business hits Kathrein in the 100th year of its existence. The company once grew through broadcasting and reception technology. First came broadcasting, then cable and satellite television, and finally mobile communications. Over the decades, Kathrein had developed into the world market leader in many areas of antenna technology.
Market observers see the sale to Ericssson as a consequence of multiple management mistakes. It is said that the company has got bogged down in too many submarkets. Recently, the antenna manufacturer had to cut hundreds of jobs.
Details of the purchase price were not provided. The acquired business is said to have generated revenues of around 270 million euros last year.