PCTEL Expands Vehicular and IoT Antenna Portfolio With Acquisition of Smarteq Wireless | Business Wire Latest Industry News | by Deanna Parenti May 04,2021

blog-image

BLOOMINGDALE, Ill.–(BUSINESS WIRE)–PCTEL, Inc. (Nasdaq: PCTI), a leading global provider of wireless technology, including purpose-built Industrial IoT devices, antenna systems, and test and measurement solutions, announced today that it had acquired Smarteq Wireless AB, a leading European supplier of antennas for vehicular, energy and Industrial IoT (IIoT) applications. PCTEL acquired Smarteq from Allgon AB.

“We’re excited to work together to expand our presence in Europe and be a meaningful growth driver for PCTEL.”

Smarteq Wireless, based near Stockholm, Sweden, provides antennas for smart metering, luxury vehicles, electric vehicle charging stations, industrial factory process automation, heavy construction and off-road vehicles. The company focuses on external antennas that meet high standards for performance, reliability and robustness.

Smarteq serves customers in 20 countries through offices in both Sweden and France. Founded in 1996, the company has decades of experience in antenna design, production and sales.

“With Smarteq, PCTEL has a strong local presence, expertise, and channel partners to accelerate our growth in Europe, as well as a complementary portfolio of products for our Industrial IoT and intelligent transportation customers worldwide,” said David Neumann, PCTEL’s CEO. “We are also excited to enter new markets such as electric vehicle charging stations, where analysts predict significant growth over the next several years,” added Neumann.

“With PCTEL, we have the opportunity to accelerate our product innovation, expand our reach and scale our operations to provide superior customer service,” said Goran Sandstrom, Smarteq’s CEO. “We’re excited to work together to expand our presence in Europe and be a meaningful growth driver for PCTEL.”

ABOUT PCTEL

PCTEL is a leading global provider of wireless technology, including purpose-built Industrial IoT devicesantenna systems, and test and measurement solutions. Trusted by our customers for over 25 years, we solve complex wireless challenges to help organizations stay connected, transform, and grow.

For more information, please visit our website at https://www.pctel.com/.

SAFE HARBOR

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Specifically, the statements regarding the anticipated benefits of PCTEL’s acquisition of Smarteq Wireless AB, the ability of PCTEL to accelerate our growth in Europe, and the anticipated growth of the new markets PCTEL intends to enter are forward-looking statements within the meaning of the safe harbor. These statements are based on management’s current expectations and actual results may differ materially from those projected as a result of certain risks and uncertainties, including risks associated with successful integration of Smarteq into PCTEL’s existing organization; costs and challenges of entering new markets; increased operating expenses; and the rate of growth of the electric vehicle and other markets for PCTEL and Smarteq products. These and other risks and uncertainties are detailed in PCTEL’s Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and PCTEL disclaims any obligation to update or revise the information contained in any forward-looking statement, whether as a result of new information, future events or otherwise.

 

PCTEL® is a registered trademark of PCTEL, Inc. © 2021 PCTEL, Inc. All rights reserved.

 

Contacts

PCTEL Company Contact

Suzanne Cafferty
Vice President, Global Marketing
PCTEL, Inc.
(630) 339-2107
public.relations@pctel.com

PCTEL Investor Relations Contact

Phillip Kupper
Three Part Advisors, LLC
(817) 778-8339
Pkupper@threepa.com

Source: PCTEL Expands Vehicular and IoT Antenna Portfolio With Acquisition of Smarteq Wireless | Business Wire

About Author

Deanna Parenti

Deanna is from Frederick, MD. She attended Juniata College in Huntingdon, PA, to earn her Bachelor of Arts degree in English Literature and Professional Writing and minor in Fine Arts. While at Juniata she worked as a Juniata Assistant Professional Writer for the Provost.

This experience then led her to work as a journalist for Arts Help and a volunteer grant writer for Team Hope after graduating. In her free time, Deanna enjoys volunteering, making pottery, and getting outside.

Tags

Related Blog

FirstNet, Built With AT&T, Teams With First H.E.L.P. to Support First Responders in Lorain County With #ResponderReadiness Training Latest Industry News | by Taylor Thomas 2022-05-06

First H.E.L.P. (Honor, Educate, Lead and Prevent) and FirstNet®, Built with AT&T, are teaming up to provide first respon...

Iowa Radio System Performs During Record Tornadoes Latest Industry News | by Chris Lougee 2022-03-17

When four devastating tornadoes struck near Des Moines, the Iowa Statewide Interoperable Communications System (ISICS) p...

Why are Critical Communications Important in the Face of Climate Change? Latest Industry News | by Deanna Parenti 2022-01-20

Only a few weeks ago on December 11, 2021, tragedy struck communities throughout Kentucky. From the 11th to the 12th an...

Signup for Latest Updates and Blog