PCTEL Expands Vehicular and IoT Antenna Portfolio With Acquisition of Smarteq Wireless
PCTEL (Nasdaq: PCTI) announced its acquisition of Smarteq Wireless AB, a prominent provider of antennas for vehicular and Industrial IoT applications. Based in Sweden, Smarteq has a strong presence in 20 countries, enhancing PCTEL's growth in Europe. The acquisition supports PCTEL’s entry into new markets like electric vehicle charging stations, which are projected for significant growth. CEO David Neumann emphasized the complementary product portfolio, aiming to leverage Smarteq’s expertise to boost product innovation and customer service.
- Acquisition expands PCTEL's market presence in Europe and enhances product offerings.
- Entry into the growing market of electric vehicle charging stations.
- Smarteq's expertise and established customer base in 20 countries position PCTEL for accelerated growth.
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PCTEL, Inc. (Nasdaq: PCTI), a leading global provider of wireless technology, including purpose-built Industrial IoT devices, antenna systems, and test and measurement solutions, announced today that it had acquired Smarteq Wireless AB, a leading European supplier of antennas for vehicular, energy and Industrial IoT (IIoT) applications. PCTEL acquired Smarteq from Allgon AB.
Smarteq Wireless, based near Stockholm, Sweden, provides antennas for smart metering, luxury vehicles, electric vehicle charging stations, industrial factory process automation, heavy construction and off-road vehicles. The company focuses on external antennas that meet high standards for performance, reliability and robustness.
Smarteq serves customers in 20 countries through offices in both Sweden and France. Founded in 1996, the company has decades of experience in antenna design, production and sales.
“With Smarteq, PCTEL has a strong local presence, expertise, and channel partners to accelerate our growth in Europe, as well as a complementary portfolio of products for our Industrial IoT and intelligent transportation customers worldwide,” said David Neumann, PCTEL’s CEO. “We are also excited to enter new markets such as electric vehicle charging stations, where analysts predict significant growth over the next several years,” added Neumann.
“With PCTEL, we have the opportunity to accelerate our product innovation, expand our reach and scale our operations to provide superior customer service,” said Goran Sandstrom, Smarteq’s CEO. “We’re excited to work together to expand our presence in Europe and be a meaningful growth driver for PCTEL.”
About PCTEL
PCTEL is a leading global provider of wireless technology, including purpose-built Industrial IoT devices, antenna systems, and test and measurement solutions. Trusted by our customers for over 25 years, we solve complex wireless challenges to help organizations stay connected, transform, and grow.
