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Doro AB streamlines DACH business structure with strategic divestment

MAR

As previously communicated Doro has been in the process of restructuring its German business. Doro is now finalizing the divestment of its German subsidiary /distribution and fulfilment business, IVS Industrievertretung Schweiger GmbH ("IVS GmbH"), to its Irish distribution partner Fónua, through the parent company Corstrom Ltd.

Restructuring for Growth
This strategic move is part of Doro's ongoing efforts to streamline and enhance its operations in the DACH region. By spinning off the distribution and fulfilment business, Doro will be able to increase the focus on sales and marketing activities performed through its other German subsidiary, Doro Deutschland GmbH.

Partnership with Fónua
Fónua is Doro’s leading distribution partner in Ireland. Fónua's expertise and established relationships with major mobile device manufacturers and operators will enhance IVS GmbH’s capabilities in the German market.

The preliminary purchase price amounts to EUR 1.9 million and will be paid in cash. Closing is expected to take place end of June.

For more information, please contact:

Jörgen Nilsson, President & CEO, +46 731 01 28 01, ir@doro.com

About Doro

Doro is a leading technology brand for seniors developing consumer products and services to support an active and independent life. Doro’s technology enables generations to connect digitally – both while at home and when out and about. Doro is a Swedish company listed on Stockholm Nasdaq Stock Exchange. The company is headquartered in Malmö and has sales operations in more than 20 countries. In 2023, Doro had 118 employees and net sales amounted to SEK 973.6 million (EUR 85 million), making it the European market leader for senior specialised mobile phones. Read more about Doro on our website www.doro.com/

This information is information that Doro AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-06-14 14:35 CEST.

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Doro AB streamlines DACH business structure with strategic divestment

Datum 2024-06-14, kl 14:35
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Doro AB streamlines DACH business structure with strategic divestment
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