STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Husqvarna AB (STO:HUSQB)
Effective July 15, 2015, Husqvarna Group acquires Koubachi AG, a pioneer and leader in the area of smart gardening based in Switzerland. The acquisition brings extensive experience and competence from Internet of Things and home automation technology within gardening and plant care, strengthening the Gardena Division’s positions in this field substantially.
Koubachi’s competence team including its founder Dr Philipp Bolliger will join Gardena Division. The office in Zurich will be continued as an innovation and development site for Gardena.
Koubachi – the Internet of Things in gardening Koubachi has emerged from scientific work at ETH Zurich. The current product portfolio mainly consists of a cloud based plant care system which includes sensors and mobile apps along with an extensive plant library and unique algorithms to make plant care better and easier.
“The acquisition will increase and accelerate the value of Gardena’s own smart garden concept which will be launched starting in 2016. This concept connects automatic watering and robotic lawn mowing in a unique way, and is managed by a smart phone application. Joining forces with the Koubachi team will consolidate our leadership position within gardening,” says Sascha Menges, President Gardena Division, Husqvarna Group.
The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. It was released for publication at 14:00 CET on July 15, 2015.
Husqvarna Group is a world leading producer of outdoor power products including chainsaws, trimmers, robotic lawn mowers and garden tractors. The Group is also the European leader in garden watering products and a world leader in cutting equipment and diamond tools for the construction and stone industries. The Group’s products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo, Zenoah and Diamant Boart via dealers and retailers to end-customers in more than 100 countries. Net sales in 2014 amounted to SEK 33 billion, and the Group had more than 14,000 employees in 40 countries.
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