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Kontron AG: S&T AG changes name to Kontron AG
Linz (pta071/01.06.2022/16:30 UTC+2)
Linz, 1 June 2022: Kontron AG (www.kontron.ag, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT/ as of 2 June 2022 KTN) announces that the change of the company's corporate name decided by the company's Annual General Meeting on 6 May, 2022 to Kontron AG and the associated amendment to the articles of association was entered in the Austrian commercial register (FN 190272m) on the 1st of June, 2022.
The company has changed its name due to the focus of Kontron AG and its group companies on technologies related to the Internet of Things (IoT), which have been marketed under the Kontron brand for several years. As a multinational technology leader, Kontron AG offers its customers intelligent IoT solutions in a variety of vertical markets — such as smart factory, transportation, medical technology and telecommunications — and expects strong growth in these areas in the coming years. The Group already generates around two thirds of its revenue, which was EUR 1,342 million in financial year 2021, in the IoT segment. By 2025, the company aims to increase revenues to EUR 2,000 million in the high-margin IoT business segment. For Kontron AG, the change of name is a step in the transformation process towards becoming a leading IoT player.
Following the official entry into the commercial register today, the withdrawal of 2,465,535 treasury shares of the total of 66,096,103 Kontron AG shares approved by the Annual General Meeting also takes legal effect, meaning that the new share capital of Kontron AG as of 1 June 2022 amounts to 63,630,568 bearer shares.
Hannes Niederhauser, CEO of Kontron AG: "We are setting the strategic course for further growth in the high-margin IoT market. The change of name to "Kontron", a brand with high recognition on the market, is a further step in this direction."
Kontron AG (www.kontron.ag, ISIN AT0000A0E9W5, WKN A0X9EJ, SANT/ as of 2 June 2022 KTN) - previously S&T AG - is a growing IoT technology group with more than 6,000 employees and subsidiaries in 32 countries around the world. The company is listed on the TecDAX® and SDAX® of the German Stock Exchange and is one of the leading providers of smart solutions for a host of industries. With a well-known brand and its own technologies in the fields of smart factory, railway communication systems, communication solutions and smart energy, Kontron is the well-trusted partner helping businesses undertake their digital transformation journeys in a wide range of industries to achieve their future ambitions. With its brand S&T, the company is one of the leading IT service providers in Central and Eastern Europe offering a comprehensive range of IT services including datacenter and SAP operations, workplace management, IT security or IT consulting.