Cicor Technologies Ltd. (SWX:CICN) agreed to acquire Axis Electronics Ltd. from management of Axis Electronics for CHF 1.2 million on November 11, 2021. The transaction will be financed by the available credit line for acquisitions and issuing shares from the authorized capital. All 180 employees of Axis Electronics Ltd will be retained.

Axis' existing management team will therefore individually become shareholders of Cicor and continue in their present roles, guaranteeing the sustainable strategic integration of the company into the Cicor Group. The transaction is subject to customary closing conditions and expected to close in 2021. The acquisition will increase Cicor group sales by approx.

15% on an annualized basis and result in a sustainable increase in EBITDA margin for Cicor starting in 2022. Capital concepts international ag acted as financial advisor to Cicor Group.