Hong Kong, April 5, 20242/US Communication/ -- The Wayda Group (NYSE: 303), the world's leading provider of infant and preschool e-learning products and the largest manufacturer of home phones in the United States, today announced its wholly owned subsidiary Gigaset Technologies GmbH (formerly Snom Solutions GmbH)) has completed the acquisition of assets of Gigaset Communications GmbH (Gigaset) (including located in PRODUCTION FACILITIES IN BOHOLT, GERMANY). The acquisition is paid for with internal resources.
The asset acquisition agreement was announced on 24 January 2014 and the transaction was completed on 5 April 2014. After the acquisition was completed, Weida acquired the Group's first production facility in Europe through Gigaset's plant in Boholt, Germany. Gigaset's DECT (Digital Enhanced Cordless Telecommunications) wireless telephony, business phone plans for corporate customers and mobile communications for Android operating systems will be managed and operated by Gigaset Technologies GmbH, a new company under Weida. Gigaset has discontinued its cloud smart home business prior to completion of the acquisition.
Investor Online Meetings
Weida will hold an online meeting on 18 April 2014 at 4.30pm Hong Kong time to discuss the information contained in this press release and related matters. Please click this link to register: tinyurl.com/yvf839yp. Investors who wish to attend this meeting please log in at least 15 minutes prior to the scheduled start time of the meeting.
From 10:00pm (Hong Kong time) on 18 April 2014，A recording of this online meeting is available on the Weida Group website ().
About Weida
Weida is the world's largest infant and preschool e-learning products company, and the largest manufacturer of home phones in the United States, while providing highly regarded contracted manufacturing services. FOUNDED IN 1976, THE GROUP HAS BEEN A PIONEER IN THE E-EDUCATION TOY INDUSTRY, CREATING PRODUCTS THAT EDUCATE CHILDREN AROUND THE WORLD WITH PROFESSIONAL EDUCATIONAL KNOWLEDGE AND INNOVATIVE INNOVATIONS. The Group leverages years of successful experience in wireless telephony technology, combining advanced technology and sophisticated design to enhance their experience with a diverse range of telecommunications products for home and business users. As one of the world's leading suppliers of contracted manufacturing services, Weida provides customers with first-class and comprehensive services across multiple product categories. The Group's mission is to integrate economic growth, environmental protection and social responsibility into its business strategy to design, produce and deliver innovative and high-quality products that benefit people and society, and bring sustainable value to business stakeholders and communities.