With this acquisition, Seco is further expanding its expertise in the field of IoT and embedded systems. Hereby, the group intends to further strengthen its position in Europe and globally. As recently in 2019 and 2020, Garz & Fricke had acquired the companies e-GITS and Keith & Koep.
The acquisition of Garz & Fricke by Seco creates a large embedded group and provider of embedded, IoT and AI applications in Europe. Seco was convinced by Garz & Fricke's Arm-based embedded portfolio in Europe and strong presence in German-speaking countries, as well as its additional presence in North America.
The transaction is a key milestone for Seco's further growth path and follows its strategic goals. With the deal, Seco strengthens its presence in the German-speaking market (DACH) and further expands its offering of IoT, AI and edge applications in the market. The AI SaaS platform »Clea« plays a central role in this context.
In 2017, Afinum had invested in the Hamburg-based embedded HMI specialist Garz & Fricke. In subsequent years, the Garz & Fricke Group was formed through the acquisitions of application and platform developer e-GITS in 2019 and processor module specialist Keith & Koep in 2020. With the transaction, Seco acquires 100 % of the share capital of Garz & Fricke Holding GmbH.
Massimo Mauri, CEO of Seco explains, »The acquisition of Garz & Fricke Group is an important step in our growth project. Hereby we want to create added value for our customers and shareholders and expand our position in Europe and globally. We also want to expand our product portfolio with key skills and technologies«. Stefan Heczko, CEO of Garz & Fricke Group adds, »The merger will enable our customers to benefit from the development of an even broader product offering and even more efficient processes. Existing applications from Garz & Fricke will be integrated into Seco's technical and operational platform. We want to support the further acceleration of the company's growth path«.