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Global industrial IoT company, Advantech, has acquired French POS and KIOSK brand, Aures, amidst the rise of ‘smart retail’ and changing consumer habits
Global industrial IoT company, Advantech, has acquired French POS (point of sale) and KIOSK brand, Aures, amidst the rise of ‘smart retail’ and changing consumer habits following Covid-19.
According to MC Chiang Liu, vice president of Advantech Service-IoT Group, the global retail industry has endured significant challenges in recent years due to the Covid-19 pandemic, supply chain disruptions, global inflation, and interest rate hikes.
He has also cited the rise of AI (artificial intelligence) and shifts in consumer behaviour as having “spurred industry transformation and consolidation trends”.
As a result, Advantech has been continuously strengthening its presence and expanding its hardware and software product portfolio.
Aures is a well-known brand in the western market due to its design and development capabilities in POS and KIOSK products and Advantech has expertise in intelligent systems and a global logistics network.
This is expected to result in “promising prospects for both companies, their employees, customers, partners, and the global smart retail sector as a whole”.
Advantech will acquire Aures through transactions with the major shareholder and public tender offer, at price per share not exceeding €6.7, with potential to acquire up to 100% equity.
The company will also subscribe newly issued convertible bonds from Aures, totalling €5m to support its working capital. The entire transaction will proceed following completion of internal approval processes by both parties and regulatory approval from relevant authorities.
Liu comments: “Advantech has been actively initiating its third transformation in recent years, redirecting to a sector-driven strategy. Among these markets, smart retail has been identified as one with significant potential.
“Aures and Advantech highly complement each other in terms of regional coverage, product portfolio, and organisational capabilities. With the core direction of ‘AIoT+ Edge computing, Advantech aims to create more profound impact and value in the future.”
