Hardware

German equity firm to buy Elatec for $430 M

Image: Adobe Stock.

May 31, 2023

SGT Capital, a Germany based private equity firm, has agreed to acquire Elatec GmbH from Summit Partners, an equity investor, for approximately €400 million ($429.27 million), according to a press release.

Elatec, also based in Germany, provides physical and digital access solutions. The company provides contactless RFID reader hardware for user identification and a cloud based IoT platform with SaaS device management solutions globally.

Elatec has more than 150 employees around the globe and supports more than 60 RFID card type technologies plus BLE and NFC, while its products are certified in 110 countries and enable end-to-end encryption.