The Foxconn subsidiary Ennoconn Corporation subscribed to the 10% capital increase of the publicly listed technology company, and together with other share purchases increased its stake in S&T to 29.4%.On balance, S&T has raised about EUR 43.9 million.
The inflow of funds derived from the capital increase will be directly used by S&T for an investment in the German company Kontron AG based in Augsburg. S&T will acquire 29.9% of the shares in Kontron. The deal is justified on the basis of expected synergy effects. As one of the leading manufacturers, the Foxconn Group boasts efficient development and production capacities in the fields of embedded computer systems and wireless data transmission, and also has a broad customer base as the former market leader in the embedded computer segment. Together with the software engineering resources of S&T, the companies have the potential to play a globally leading role in the fields of Internet of Things and Industry 4.0, according to S&T.