MUNICH -- Katek has signed a comprehensive, exclusive term sheet to acquire Canadian electronics manufacturing services provider SigmaPoint Technologies.

Financial terms were not disclosed. Closing is planned for the end of the second quarter, subject to official approvals.

The move expands Katek's presence to include homeland security and defense and strengthens the offering for Katek's European customers in North America.

SigmaPoint is one of Canada's leading EMS providers, with annual sales over $100 million and 280 employees. Its largest customer in North America is one of Katek's top 5 customers in Europe. SigmaPoint CEO Dan Bergeron and the full management team will continue to lead SigmaPoint after the acquisition.

The investment is part of Katek's strategy of opening additional markets for HVE (high-value electronics).

Rainer Koppitz, CEO, Katek, said: "As the number three electronics service provider in Europe, we are making good on the promise to our European customers of a presence on the North American continent."

Katek also is opening its first Asian plant in Malaysia.

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