“I am delighted that this transaction has been closed so quickly and convinced that Frequentis Canada ATM will make an important contribution to our ATM communication solutions business in the future,” says Frequentis’ CEO Norbert Haslacher. “Our joint competencies make us stronger, especially in the key US, Canadian, and UK markets.”
As a wholly owned subsidiary of Frequentis AG, the former ATC Solutions business unit of Harris Canada Systems Inc., which is headquartered in Gatineau, Canada, will operate independently as Frequentis Canada ATM Ltd. It has around 60 employees, who work in development and business development.
The purchase agreement was signed on 23 February 2021 and closing took place on 28 May 2021.
This acquisition extends Frequentis’ technical offering and adds an even broader range of solutions to its extensive ATM portfolio. This further strengthens Frequentis’ position as a global supplier of ATM communication solutions, especially for large IT-based systems.
The managing director of the new entity will be Frequentis manager Michael Lang, who is taking on this position in addition to his role as managing director of Frequentis’ present operations in Canada.
The closing of this acquisition shows that the overall transaction with L3Harris is making rapid progress. The acquisition of Harris Orthogon, now Frequentis Orthogon GmbH, in Germany was completed on 30 April. Acquisition of the remaining entity, Harris C4i Pty. Ltd. in Melbourne, Australia, is subject to regulatory approval and closing is expected in the second half of 2021.