Investor takes over Fritzbox manufacturer AVM
1986 was founded by AVM. The company is best known for the router Fritzbox. The three founders of the company are now stepping back. Instead, Imker Capital Partners is taking over the majority. Beforehand, it was necessary to free oneself from legacy issues.
A European investor is entering the Fritzbox manufacturer AVM. Imker Capital Partners is taking over the majority, but the three founders are retaining a minority stake, as AVM Computersysteme Vertriebs GmbH in Berlin announced. This regulates the succession, the contracts have been signed. The purchase price was not mentioned.
CEO and co-founder Johannes Nill said that they have actively started the generational change to continue the success of the company. He is pleased with the investor with whom we share the same visions for the future of the company. "Imker's engagement is an important milestone in the history of our company and will further enhance AVM's ability to offer innovative solutions." AVM aims for growth through new products and stronger internationalization.
The 1986-founded Berlin company had 890 employees last year and achieved a turnover of 580 million Euro. AVM does not disclose earnings. The company sells routers, repeaters, phones, and smart home products such as digitally controllable heating regulators and lights - the brand for this is "Fritz!". Among the competitors are Asus from Taiwan and Netgear from the USA.
The name Fritz was chosen as a typical Berlin name, as a company spokesperson explained. It should sound simple and convey to consumers that network technology with the company's products is easily usable.
Recently, the business practices of the company came under the scrutiny of the Federal Cartel Office. Due to a pricing agreement that AVM had imposed on six electronics retailers, the Berlin company must pay a fine of approximately 16 million Euro. The company agreed to the fine, as stated in a company statement: "AVM chose the amicable termination of proceedings also to free itself from financial burdens of the past."
The takeover by Imker Capital Partners signifies a significant shift in the economy of AVM, a technology group known for its Fritzbox router. With this move, the company aims to accelerate growth through new products and stronger internationalization.
The upcoming mergers and takeovers in the technology sector are likely to impact the economy, and AVM's situation serves as an example of how such changes can be managed smoothly, with the help of an investor sharing similar future visions.
