faytech AG becomes a part of the mic AG!
We are excited to start 2022 with some incredible news for faytech! This is an update to our previously released news back in July 2021 – after many negotiations and paperwork, we can officially state that the faytech AG becomes a part of the mic AG, following the transaction plan that shall already happen in the first quarter 2022.
The most important message is – for you, our customers and partners, that shall have basically just one effect – the cooperation with us shall become even better.
With the integration we increase our global reach, will have a higher efficiency on product innovations and shall leverage on synergy effects to offer you further improved products and services providing a real competitive advantage in the field of touchscreen devices.
See the official press release from mic AG in German here and below a short version of the highlights of this press release.
mic AG: Complete takeover of faytech AG – Group sales of approx. EUR 100 million planned in 2022
Munich, December 27, 2021 – mic AG signed the purchase agreement to acquire all shares in faytech AG (“faytech”), Witzenhausen, on December 24, 2021. The sellers were 40 individuals and companies around the founder and CDO of faytech AG, Mr. Arne Weber. faytech is one of the leading manufacturers of touch solutions and technology in the industrial environment and for the point-of-sale (POS). Development and sales of faytech products take place in Germany, China and the USA. The majority of production is located at two sites in China.
The term sheet for the acquisition was closed and published on July 29, 2021. Since then, in parallel to conducting due diligence and negotiating the final purchase and contribution agreement, mic AG has been working with faytech AG and mic’s wholly owned subsidiary Pyramid Computer GmbH on the joint business model and the best approach to leverage the existing synergies.
“I am convinced that together with Pyramid Computer GmbH and the mic AG team, we can build a pioneering center of competence and innovation for P.O.S., QSR and industrial touch devices. Together, we have the potential to become the global market leader in several lucrative market niches,” said Arne Weber, founder and CDO of faytech AG.
“Since both companies and their managing directors (Josef Schneider, Pyramid and Arne Weber, faytech) have known each other operationally for several years, we have every opportunity to accelerate the growth of the combined companies and leverage synergies, especially in purchasing and manufacturing. We look forward to working with the great people at Pyramid and mic – to learn from and with each other and to improve even further,” said Peter Trosien, CEO of faytech AG.
“With the successful execution of the faytech acquisition, we are already reaching the next level of the company’s development. We become more international, more dynamic and increase our perception on the product as well as on the capital market. As a profitable company with expected sales of EUR 100m, Pyramid/faytech will play a much bigger role and enjoy more attention in the future, both within the industry and among investors,” said Andreas Empl, CEO of mic AG.
With the closing of the transaction, which is expected this month, the two faytech board members Arne Weber and Peter Trosien are to be appointed as additional members of the mic AG management board alongside Andreas Empl and Josef Schneider. Arne Weber and Peter Trosien will also remain on the Management Board of faytech AG.
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