Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Tait Communications buys Brazilian partner

Tait Communications buys Brazilian partner

Sept. 17 (BusinessDesk) - Tait Communications, the Christchurch-based radio communications firm, has bought its long-time Brazilian partner SGM Telecomunicacoes for an undisclosed sum as it looks to beef up its presence in the rapidly growing Latin American economy.

Sao Paulo-based SGM, which Tait told BusinessDesk has multi-million dollar annual revenues and a staff of 30, will be rebranded as Tait Communications, and become the group's regional hub for its Latin American operations, the company said in a statement. The acquisition will be funded from existing cash and working capital facilities, though the details of the transaction are confidential.

"Strengthening Tait in Brazil by acquiring the expertise and market know-how of SGM moves us closer to our clients and gives us the strategic advantage of a local presence in the burgeoning Brazilian market," Tait Americas president Victor Agnellini said. "We expect to expand revenue opportunities in Latin America not only via our products and platforms, but through our services and solutions offerings too, as well as those offered by our global partner initiatives."

The two companies have previously fufilled analogue and digital contracts across Brazil's 27 states and throughout the wider continent, with a client list including Sao Paulo Military and Civil Police, Minas Gerais Military Police, the military police in Panama, Companhia Paranaense de Energia (COPEL), and the Brazilian state oil company, Petrobras.

"Strategically, this makes far more sense than a green field start-up," Tait acting chief executive David Wade said in a statement.

Tait has traditionally built digital radios and transmission equipment, though has expanded its focus supplying software and services. That shift led to the company cutting 74 jobs in Christchurch in June, as it scaled back domestic manufacturing.

BusinessDesk receives funding to help cover the commercialisation of innovation from Callaghan Innovation.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO:

Crown Accounts: Govt Books In Line With Forecasts

The Government’s financial statements for the four months to 31 October indicate the books are tracking along with Treasury’s Budget forecasts, Finance Minister Grant Robertson says. More>>

ALSO:

Expert Reaction: Ross Sea Region Marine Protected Area In Force

Sweeping new protections for Antarctica's Ross Sea will come into effect on Friday 1 December. After five years of debate, the marine protected area (MPA) was agreed in 2016 after a joint proposal by New Zealand and the United States... More>>

ALSO: