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W5 Solutions enters into an agreement to acquire Kongsberg Target Systems

Source: W5 Solutions / Defence Industry Europe

W5 Solutions AB has entered into an agreement to acquire the Norwegian company Kongsberg Target Systems AS, one of the world’s leading suppliers that develops, manufactures, and sells electronic target systems with an international customer base.

The initial purchase price amounts to a total of approximately MSEK 45.2, of which MNOK 20 (MSEK 20.2) will be paid in cash, and MSEK 25 will be settled in the form of consideration shares in W5 Solutions.



KTS is one of the leading global suppliers of electronic target systems and has offered quality solutions to customers worldwide since its inception in 1995. The latest unique product from KTS, Kongsberg eScore, was launched in 2021 and is the world’s first-ever professional software platform for electronic target shooting. KTS has around 25 employees and is headquartered in Heistadmoen, Norway. After the acquisition is completed, KTS will continue to operate as an independent company with the current management. KTS will continue to act under the Kongsberg Target Systems brand and supply existing customers.

“I am pleased that we have reached an agreement, and it is with great pleasure that we welcome KTS employees to the W5 Solutions Group. This acquisition constitutes a significant strategic step within our acquisition strategy and secures our position in the Nordic market. Through the acquisition, we strengthen our international expansion and gain access to several important geographic markets, including the US, which is vital for W5 Solutions’ continued growth and export strategy,” says Daniel Hopstadius, W5 Solutions’ CEO.



“I am convinced that this acquisition will bring many synergies and opportunities and also strengthen our business going forward. We have worked closely with W5 Solutions for many years and have a well-established relationship. Therefore, I feel confident in continuing our development within the W5 Solutions Group,” says Toralf Johannessen, KTS’ CEO.

“We welcome KTS to the W5 family and look forward to more opportunities in the Norwegian market,” says Siebren de Boer, W5 Solutions Director of Corporate Development and M&A.

 

 

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