Kathrein sells core business to Ericsson

February 25, 2019 //By Christoph Hammerschmidt
Kathrein sells core business to Ericsson
Kathrein SE (Rosenheim, Germany), a company specializing in antennas and satellite technology, intends to sell its core business with mobile antennas to Ericsson. This business unit, with around 4,000 employees in R&D, production and sales at more than 20 locations worldwide, is expected to be integrated into Ericsson's Business Area Networks in the third quarter of 2019. Only 350 employees remain at Kathrein.

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.

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