UET United Electronic Technology AG (XTRA:CFC) intent to acquire Teleconnect GmbH on January 28, 2022. The consideration will be in cash and issue of new shares in UET United Electronic Technology. In the course of this transaction, it is proposed to increase the share capital of UET AG by 1,050,000 shares.

After completion of the transaction, the shareholders of Teleconnect GmbH will become shareholders of UET AG. For the year 2021, Teleconnect reported sales of approximately €2 million.