Taoglas acquires US rivals
Enniscorthy firm Taoglas, who design and make high-tech antennae, last week confirmed the acquisition of US rival ThinkWireless for an undisclosed sum. The official announcement was made at CES, the world's largest consumer electronics show, in Las Vegas.
Established back in 2004, Taoglas is focused on next-generation technologies in 5G, the internet of things (IoT) and satellite navigation. The company, under the directorship of Dermot O'Shea and Ronan Quinlan, has enjoyed major growth in recent years and also has facilities in Dublin, Taiwan, the US, Germany and China, employing more than 300 people.
ThinkWireless is a Florida-based company which specialises in the design, development and production of combination antenna systems for commercial vehicles and its acquisition will have been a major coup for the Enniscorthy firm.
'As we continue to explore potential acquisitions to strengthen the Taoglas brand, we were struck by how similar ThinkWireless' approach to antenna design and manufacturing is to our own commitment to excellence,' said Ronan Quinlan, co-chief executive, Taoglas.
'This is a great acquisition for the Taoglas Group as we look to further expand into new, synergistic markets such as the commercial vehicle industry.'
Recently filed accounts for Taoglas showed evidence of major growth with a turnover rise of 29 per cent to €44.6 million to the end of 2017, a period which saw the company ship some 14.5 million antennae internationally in what has been a global success story.