Etion Create now officially part of Reunert stable

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Etion Group has concluded the sale of its subsidiary Etion Create to Reunert Applied Electronics. Etion Create is now officially part of the Reunert Group of companies.

In May this year, Etion Group and Reunert announced the intended change of ownership, which was finalised and concluded on 3 October. Through this action, Reunert has now acquired 100% of the issued shares in Etion Create, for R202 million.

Etion Create is in the process of integration into the Applied Electronics segment of the Reunert group, and will provide it with original design capability for the design integration and support of advanced technology in the mining and industrial; defence and aerospace; Internet of Things; sensors; and cyber security market segments.

Reunert already has an electronic manufacturing capability but this will be improved through the acquisition of Etion Create, which also has very good access to markets Reunert participates in, and has secured contracts in those markets.

“Reunert wishes to expand its Applied Electronics segment and believes that the augmentation of its existing assets with the strategic positioning, value proposition and original design manufacturing skills of Etion Create will accelerate these ambitions,” the company said earlier this year.

Announcing the conclusion of the acquisition this week, Reunert and Etion Create said they “look forward to exploring further areas of collaboration now that Etion Create is part of Reunert Applied Electronics, to the mutual benefit of all our stakeholders.”

“Both Reunert and Etion Create view sustainable transformation as a cornerstone of our responsibility as corporate citizens. Therefore, continued improvement in Etion Create’s B-BBEE level remains key for the future. Reunert brings with it a broad-based black economic ownership structure which includes a comprehensive Employee Share Option Programme resulting in 48.93% black ownership, 32.46% black women ownership and 12.65% black youth rating which will support Etion Create’s improved rating.”

Etion Create (formely Parsec) offers products and services such as signal processing platforms for radar, signal processing units for electronic warfare, weapons integration and weapon control systems, military standard communication interfaces, mission computers and display electronic units, secure communications, and test equipment. Etion Create previously developed camera sensor electronics for an optical helmet tracker solution for the Eurofighter and Gripen fighter jets used by European air forces as well as the South African Air Force. One of its other key products is the CheetahNAV tactical navigation system for light military vehicles.

Etion began disposing of some of its assets last year and has disposed of LawTrust, Etion Connect, Etion Create and Parsec Properties. LawTrust was acquired by Altron and Etion Telecommunications acquired Etion Connect in September for R71 million.