Hexatronic acquires 90% stake in Italian structured cabling company Qubix
Hexatronic Group, a Sweden-based fiber communications specialist, has acquired a 90% stake in Italian structured cabling company Qubix for nearly €14.4 million from euromicron Holding, a German provider of network and fiber optics technology.
The remaining 10% stake in the Italian firm will be held by its founder and general manager Filippo Gnocco, who will continue in his current role.
Filippo Gnocco said: “Hexatronic as an international company focused on passive fiber optic telecommunication infrastructure strengthens our position on the market in Italy where we with the acquisition has access to in-house production of fiber optic cables, ducts and connectivity solutions.”
Qubix is engaged in supplying structured cabling for the telecommunication infrastructure in buildings and on campuses across Italy. It was established in 2001 in Italy as a spin-off of a cable manufacturer.
Most of Qubix’s total sales are presently in the Italian market.
Its solutions are used mainly in local networks for internet access in office buildings, residential buildings, and also on university campuses.
According to Hexatronic Group, the Italian structured cabling market has been growing with a few percent year over year during the past five years, and is projected to continue to grow at the same pace going forward.
Henrik Larsson Lyon – CEO of Hexatronic Group said: “I look forward to welcoming Qubix and their team to Hexatronic Group. Qubix is the market leader in Italy within structured cabling and complements our offering within indoor telecommunication solutions.”
In a separate development, Hexatronic Group acquired Estonia-based Baltronic Group and Canada-based Toronics, which supply and assembly fiber optic products with a focus on wireless and FTTH solutions.