Internet router - Investor acquires majority stake in Fritzbox manufacturer AVM
A European investor is joining forces with Fritzbox manufacturer AVM in Berlin. Imker Capital Partners is taking over the majority, while the three founding members will retain a minority stake, according to AVM Computersystems Vertriebs GmbH. The deals have been signed to ensure a smooth succession. The purchase price was not disclosed.
CEO and co-founder Johannes Nill stated that they have actively initiated the generational change to continue the success of the company. He is excited about the investor with whom they share the same vision for the future of the company. "Imker's engagement is an important milestone in our company's history and will further enhance AVM's ability to offer innovative solutions." AVM aims for growth through new products and increased internationalization.
The Berlin-based company, founded in 1986, employed 890 people last year and generated a turnover of 580 million Euro, without disclosing profits. The company sells routers, repeaters, phones, and smart-home products like digitally controllable heating regulators and lights, with the brand name "Fritz!" to match. Competitors include Asus from Taiwan and Netgear from the USA.
A Berlin Name
The name Fritz was chosen as a typical Berlin name, as a company spokesperson explained. It is meant to sound simple and convey to consumers that networking technology with the company's products is easily manageable.
Recently, the business practices of the company came under scrutiny by the German Cartel Office. Due to a price agreement that AVM imposed on six electronics retailers, the Berlin firm must pay a fine of approximately 16 million Euro. The company agreed to the fine, leading to the amicable termination of the proceedings, as stated in a company announcement: "AVM chose the amicable termination of the proceedings also to free itself from financial burdens of the past."
- The European investor, Imker Capital Partners, is based in Berlin, where they're collaborating with the German company AVM, known for its Fritzbox routers.
- The upcoming generation change at AVM is led by CEO Johannes Nill, who is eager to work with Imker Capital Partners, sharing a vision for the company's future in the internet technology sector.
- As a part of the partnership, AVM, based in Berlin, aims to expand its offerings, introducing new products and increasing its international presence to continue its successful growth.
