Hellblad Invest's New Chapter: Divestment of Handheld Group to MilDef
Hellblad Invest AB (formerly Handheld Holding AB) today announces that it has divested its entire holding in Handheld Group AB, a leading manufacturer of rugged mobile computers, to MilDef AB, a Swedish-based international provider of tactical IT listed on Nasdaq Stockholm. Through the transaction, MilDef has acquired 100% of the outstanding shares in Handheld Group AB.
Handheld's operations will continue to be run independently under the name Handheld and the company's founders and majority owners Jerker Hellström and Thomas Löfblad, also founders and owners of Hellblad Invest AB, will remain in the company and continue to work in an unchanged form.
The combination of the two companies' resources and competencies provides a strong platform for further growth. Both Handheld and MilDef have a strong focus on delivering added value and high-quality solutions to their customers.
"It is unusual that two companies in the same industry not only complement each other's businesses so well, but also have a similar corporate culture with a strong team spirit as one of many important success factors. I look forward to the opportunities now created and to continue to build Handheld as part of the MilDef Group. This deal will bring many synergies and interesting opportunities and thereby strengthen Handheld's business going forward", says Thomas Löfblad, CEO, Handheld Group.
"The acquisition of Handheld serves several purposes for MilDef's expansion. In terms of products, we will be strengthened in areas where MilDef has previously had certain gaps, organizationally we will gain access to prioritized geographical markets and operationally both businesses will be equipped with complementary skills and abilities. Particularly interesting is Handheld's successful business in the US, where we see good potential for a joint effort to grow in this important market. The companies have very little overlap and complement each other well. We look forward to building something bigger and even better together. It is also with great pleasure that we also welcome Handheld's employees to the MilDef family", says Björn Karlsson, CEO MilDef Group.
ABOUT Handheld Group
Handheld Group is a Swedish manufacturer and global supplier of rugged mobile computers, PDAs and tablets. Handheld and partners worldwide deliver mobility solutions to companies in geomatics, logistics, forestry, public transportation, construction, maintenance, mining, military and security. Headquartered in Sweden, the Handheld Group has subsidiaries in Finland, the UK, the Netherlands, Italy, Germany, Switzerland, Australia and the USA. More information can be found at www.handheldgroup.com
ABOUT MilDef
Founded in 1997 in Helsingborg, Sweden, MilDef is a provider of tactical IT for demanding environments. Tactical IT includes ruggedized electronics, software and services. MilDef's products are currently sold to more than 160 customers through MilDef's subsidiaries in Sweden, Norway, Finland, the UK and the US, and through partner networks to over 30 countries, mainly within the EU. MilDef is listed on Nasdaq Stockholm. See
www.mildef.com
ABOUT Hellblad Invest
Hellblad Invest AB (formerly Handheld Holding AB) is a Swedish investment company with a passion for promoting growth and innovation. At the core of our business is a strong entrepreneurial spirit and the focus is on acquiring and owning minority stakes in both listed and unlisted growth companies, where we see potential for long-term value growth. For more information see www.hellblad.com
Press ContaCt
Sofia Löfblad
Hellblad Invest AB
sofia @ hellblad.com
+46 709 90 16 14