In addition, the acquisition creates the conditions for increased sales of both companies' products. Reasons for the acquisition Tobii Dynavox considers the primary value creation resulting from this acquisition to arise from accelerated innovation and development of technologies for mounting solutions, which is often an integral part of assistive communication solutions. The seller, Rehadapt's CEO Uli Ehlert, will remain with Rehadapt for a period of at least one year. Rehadapt's turnover in 2022 was approximately EUR 10 million with an adjusted EBIT margin of approximately 20%. Rehadapt has approximately 50 employees and is headquartered in Kassel, Germany with a local subsidiary and distribution center in the United States. Rehadapt's products are currently sold together with Tobii Dynavox's products as well as by many other companies in assistive communication. Based on over 20 years of expertise and innovative development, Rehadapt has created a well-respected brand and a valuable asset base in the field of mounting solutions. Rehadapt is a premium provider of medically certified mounting solutions for assistive technology, including out-of-the-box and flexible solutions to support individual communication, independent mobility kits and customized accessories.
The transaction is subject to relevant regulatory approvals and other customary conditions, which are expected to be completed in the third quarter of 2023.
TELLS STAFF FOCUS PRODUCTS META STOCK FREE
Tobii Dynavox will pay EUR 15 million in cash, on a cash and debt free basis. Rehadapt is a worldwide provider of mounting solutions for assistive technology. Tobii Dynavox AB ("Tobii Dynavox"), the world leader in assistive communication, has entered into an agreement to acquire all the shares in the German companies EIYott GmbH and Rehadapt Engineering GmbH & Co.
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