Cicor Technologies Ltd. agreed to acquire Phoenix Mecano Digital Elektronik Gmbh and Phoenix Mecano Digital Tunisie S.a.r.l. from Phoenix Mecano AG on November 15, 2022. The German sites will be integrated into the organizational unit "Cicor Germany" of the Electronic Manufacturing Services (EMS) Division. The Tunisian site will also become part of the global production network of the EMS Division.

The transaction will be financed by funds from the issued mandatory convertible bond (MCB). The transaction is subject to customary closing conditions and is expected to close within the next 2 to 4 months.