PCTEL expands antenna business with Europe acquisition
Posted5/3/2021 2:38 PM
BLOOMINGDALE -- PCTEL Inc. said it has acquired Smarteq Wireless AB, a leading European supplier of antennas for vehicular, energy and industrial applications. Financial details of the transaction were not disclosed.
PCTEL acquired Smarteq from Allgon AB.
Smarteq, based near Stockholm, Sweden, provides antennas for smart metering, luxury vehicles, electric vehicle charging stations, industrial factory process automation, heavy construction and off-road vehicles.
"With Smarteq, PCTEL has a strong local presence, expertise, and channel partners to accelerate our growth in Europe, as well as a complementary portfolio of products for our Industrial IoT and intelligent transportation customers worldwide," said David Neumann, PCTEL's CEO. "We are also excited to enter new markets such as electric vehicle charging stations, where analysts predict significant growth over the next several years.