Ascento Capital Advises Proant, a Leading IoT Company in Sweden, in Its Sale to Abracon in the United States

Fantoo Is Looking for a Voice of King Sejong…Launching the Character of the AI Chatbot ‘Sejong T-Bot’

Ascento Capital represented Proant AB, a leading IoT antenna company in Sweden, on a sell side M&A transaction, in its sale to Abracon in the United States, which is backed by the private equity firm the Riverside Company.

Marketing Technology News: Alliance Develops Shared Diversity and Inclusion Goals

Founded in 2005 and based in Umeå, Sweden, ProAnt provides cutting-edge antenna technology to a global base of customers. The Company delivers a variety of novel antennas for energy metering, medical, automotive, consumer, and industrial applications. Abracon, LLC is an industry leader in passive components, providing frequency control & timing device, RF & antenna, and inductor & connectivity solutions through a global distribution network.

“Proant’s success with antennas is attributed to providing cost-effective and robust connectivity to our customers,” said Tomas Rutfors, CEO and founder of Proant AB. “Now, by joining forces with Abracon, we increase our geographic footprint through Abracon’s excellent global sales channels. Together with the Abracon antenna team, Proant will continue to develop and supply antenna solutions supporting market needs.”

Marketing Technology News: MarTech Interview with Clarence Kam, Chief Product Officer at JW Player

Mr. Rutfors also commented, “Ascento Capital represented Proant in this transaction. Ben Boissevain led the deal and did a terrific job. He conducted a global search with a wide outreach to over 100 targets. We had serious interest from companies in the United States, Europe, and Asia. Due to the vigorous auction process, the valuation of Proant exceeded my expectations.”

Picture of PRNewswire

PRNewswire

PR Newswire, a Cision company, is the premier global provider of multimedia platforms and distribution that marketers, corporate communicators, sustainability officers, public affairs and investor relations officers leverage to engage key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to- end solutions to produce, optimize and target content -- and then distribute and measure results. Combining the world's largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions.

You Might Also Like