SGT Capital, a global private equity firm, has agreed to purchase Elatec GmbH from Summit Partners in a transaction valued at approximately €400 million (about $429.5 million).
Headquartered in Germany, Elatec is an international developer and supplier of various physical and digital access services. The company offers contactless reader hardware for user identification and a cloud-based IoT (Internet of Things) platform with SaaS device management services globally. Elatec has over 150 employees and supports over 60 RFID (radio-frequency identification) card type technologies plus BLE (Bluetooth low-energy) and NFC (near-field communication). Its products are certified in 110 countries and enable end-to-end encryption.
SGT Capital was advised by Willkie Farr & Gallagher (legal), E&Y (financial), Grant Thornton (tax), Roland Berger (commercial), and Consileon (technology).