BLOOMINGDALE, Ill .– (BUSINESS WIRE) – PCTEL, Inc. (Nasdaq: PCTI), a leading global provider of wireless technology, including specially designed industrial IoT devices, antenna systems, and test and measurement solutions, today announced its acquisition Smarteq Wireless AB, a leading European supplier of antennas for automotive, energy and industrial IoT (IIoT) applications. PCTEL acquired Smarteq from Allgon AB.
Smarteq Wireless, based near Stockholm, Sweden, provides antennas for smart metering, luxury vehicles, charging stations for electric vehicles, process automation in industrial factories, heavy construction and off-road vehicles. The company focuses on external antennas that meet high requirements in terms of performance, reliability and robustness.
Smarteq serves customers in 20 countries through branches in Sweden and France. The company, founded in 1996, has decades of experience in the development, production and sales of antennas.
“With Smarteq, PCTEL has a strong local presence, expertise and sales partners to accelerate our growth in Europe, as well as a complementary product portfolio for our customers in the field of industrial IoT and intelligent transport worldwide,” said David Neumann, CEO of PCTEL. “We are also looking forward to opening up new markets such as charging stations for electric vehicles, in which analysts are forecasting significant growth for the next few years,” added Neumann.
“With PCTEL, we have the opportunity to accelerate our product innovation, expand our reach and scale our business operations to provide world-class customer service,” said Goran Sandstrom, CEO of Smarteq. “We look forward to jointly expanding our presence in Europe and being a major growth driver for PCTEL.”
PCTEL is a global leader in wireless technology, including specially developed technologies Industrial IoT devices, Antenna systems, and Test and measurement solutions. We have trusted our customers for over 25 years solving complex wireless challenges to help businesses stay connected, change, and grow.
For more information, please visit our website at https://www.pctel.com/.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements regarding the anticipated benefits of PCTEL’s acquisition of Smarteq Wireless AB, PCTEL’s ability to accelerate our growth in Europe, and the anticipated growth of the new markets that PCTEL intends to enter are forward-looking statements in the sense of the safe haven. These statements are based on management’s current expectations and actual results could differ materially from those projected due to certain risks and uncertainties, including the risks associated with the successful integration of Smarteq into the existing PCTEL organization. Costs and challenges of entering new markets; increased operating costs; and the growth rate of the electric vehicle and other markets for PCTEL and Smarteq products. These and other risks and uncertainties are set out in the filings of the PCTEL Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document and PCTEL disclaims any obligation to update or revise the information contained in any forward-looking statement as a result of new information, future events or otherwise.
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