DiscoverIE Group plc has announced the acquisition of 2J Antennas Group, as stated in a press release on their website. The acquisition is in line with discoverIE's strategy to expand its portfolio of high-quality electronic components and solutions. 2J Antennas Group is a leading provider of antenna solutions for a wide range of applications, including IoT, automotive, and industrial sectors. The acquisition will enable discoverIE to enhance its offering in the wireless connectivity market and strengthen its position as a global provider of electronic components.
The press release highlights the strategic fit between discoverIE and 2J Antennas Group, stating that both companies share a focus on innovation, customer service, and technical expertise. The acquisition will provide discoverIE with access to 2J Antennas Group's extensive product range and customer base, allowing for cross-selling opportunities and increased market reach.
The CEO of discoverIE, Nick Jefferies, commented on the acquisition, stating, "The acquisition of 2J Antennas Group is an exciting development for discoverIE as it significantly enhances our wireless connectivity offering. 2J Antennas Group has a strong reputation for delivering high-quality antenna solutions, and we believe that their expertise will complement our existing capabilities and provide additional growth opportunities."
The press release also mentions that 2J Antennas Group has a strong track record of revenue and profit growth, with a compound annual growth rate of 20% over the past five years. This growth is attributed to the company's focus on innovation, quality, and customer service. The acquisition is expected to be immediately earnings-enhancing for discoverIE.
Overall, the acquisition of 2J Antennas Group by discoverIE Group plc is seen as a strategic move to strengthen discoverIE's position in the wireless connectivity market and expand its product offering. The acquisition is expected to provide growth opportunities and enhance discoverIE's ability to serve its customers in various sectors.