Collective Micro News, August 5, Beken released an announcement about the acquisition of the foreign company's stake, saying that the company on August 4, 2020, with Athanasios Vasilopoulos, Loannis Glykiotis, Georgios Dimitropoulos, Gerasimos Theodoratos and four other The natural person signed an agreement on the acquisition of AdveosMicroelectronicSystems P.C. for a total transaction price of €6 million. In particular, the company is acquiring 100% of the shares in Adveos jointly held by four natural persons, Athanasios Vasilopoulos, Loannis Glykiotis, Georgios Dimitropoulos and Gerasimos Theodoratos, for €4.8 million of its own funds, as well as for its own Capital 1.2 million euros to increase the capital of the target company. Upon completion of the transaction, the Company holds 100% of Adveos' equity and is the sole shareholder of Adveos.

It is disclosed that Beken has conducted the necessary due diligence on the basic circumstances of the parties to the transaction and their ability to perform the transaction, and has also hired KPMGAdvisorsSingleMemberSA and other third-party institutions to conduct due diligence on the legal, business and tax situation of the target company.

Adveos was founded on August 12, 2015 with a registered capital of €10,000 and is mainly engaged in the development and design of RF, millimeter wave, analog signal, mixed signal and other special IC chip solutions.

In 2018, Adveos reported revenue of €1,717k and EBITDA of €85k. In 2019, Adveos reported revenue of €2,249k and EBITDA of €393k.

The total amount of the transaction was €6 million, and Beken completed the transaction with its own funds. In particular, the company is acquiring 100% of the shares in Adveos held by the sellers AthanasiosVasilopoulos, LoannisGlykiotis, GeorgiosDimitropoulos and GerasimosTheodoratos for €4.8 million of its own funds, and the company is using its own funds to 1.2 million euros to increase the capital of the target company.

Beken said that the company, as a platform for providing a full range of wireless transmission chip development and artificial intelligence solutions, has covered more than 10 wireless communication protocols and standards including Bluetooth, Wi-Fi, DECT, NFC, ETC, 2.4GHz, etc., and has a leading market share in various fields such as domestic consumer electronics and wireless ICs for industrial applications.

Adveos and its R&D team have rich experience in RF, millimeter wave, analog signal, mixed signal and other special IC chip design fields, and have become a chip solution provider for Intel, Cisco and other customers. The acquisition of Adveos and in-depth cooperation will help the company strengthen its strategic layout in the field of smart home, Internet of Things and intelligent transportation, bringing new growth opportunities in terms of revenue and products, and enhancing the company's market competitiveness and long-term profitability.