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[Lidköping, Sweden, September 12, 2022.] Handheld Group, a leading manufacturer of rugged mobile computers, today announced that they have signed an agreement to be acquired by MilDef, a Swedish-based international supplier of tactical IT listed on Nasdaq SmallCap. MilDef has thru the transaction acquired 100% of the outstanding shares in Handheld Group AB.
The two companies see great opportunities in the combined efforts and deep customer relations that exist on both sides but not necessarily are overlapping. Handheld will continue to be a free-standing Group of companies under the MilDef ownership. The founders and majority owners of Handheld Group Jerker Hellström and Thomas Löfblad will remain with the company and will continue in unchanged capacity.
With the acquisition of Handheld, MilDef continues along the path of growth and the deal results in a highly established international provider of rugged and ultra-rugged premium solutions for all types of mission-critical infrastructure.
The transaction broadens both companies’ portfolio of solutions and at the same time provides a significantly larger customer base. This will enable the joint group to deliver even greater value to its customers, and also strengthen its international footprint, including expanded market presence in already established markets.
The combination of the resources and competencies of both companies provides a strong platform for further growth. Furthermore, there are strong similarities in corporate culture and values. Both organizations are highly focused on delivering value to customers in the form of high-quality solutions, while the corporate culture is one of inclusion, with a strong team spirit among employees.
“It is rare that two companies within the same area of business not only are likeminded in company culture, but also complement each other’s businesses in such a good way. I am excited about the possibilities that this creates and look forward to continuing building Handheld under the MilDef umbrella. This deal will help us boost our future businesses moving forward” said 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 previously had some gaps, in terms of organization we will gain access to priority geographical markets and in terms of operations both businesses will be equipped with complementary skills and capabilities. Of particular interest is Handheld’s successful operation in the USA, where we see good potential for a joint effort to grow this important market. The businesses have very little overlap and complement each other well. We look forward to building something bigger and better together. It is also with great pleasure that we welcome Handheld’s employees to the MilDef family”, says Björn Karlsson, CEO MilDef Group.
MilDef was founded in 1997 in Helsingborg, Sweden. The company delivers tactical IT, including rugged hardware, software, and services. MilDef’s products are sold to more than 160 customers through MilDef’s subsidiaries in Sweden, Norway, Finland, United Kingdom, the United States, and through partner networks in more than 30 countries, predominantly within the EU. MilDef Group is listed on Nasdaq Stockholm.
Handheld Group is a manufacturer and global supplier of rugged mobile computers, handhelds and tablets. Handheld and partners worldwide deliver mobility solutions to businesses within geomatics, logistics, forestry, public transportation, utilities, construction, maintenance, mining, military and security. Handheld Group, part of MilDef, is headquartered in Sweden with subsidiaries in Finland, the U.K., the Netherlands, Italy, Germany, Switzerland, Australia and the USA.