VTech to acquire German-based Snom Technology AG

BERLIN and HONG KONG, Oct. 20, 2016

"VoIP is the future of business communication and the industry is now transitioning to a cloud-based Unified Communications environment. As a pioneer in this field, Snom is constantly developing new and advanced IP technology solutions to meet the needs of businesses worldwide," said C.H. Tong, President of VTech Telecommunications Limited. "The main synergies of the acquisition will be in hardware and software development, expanded market channels in VoIP telephony, and improvement in operational efficiency."

"We are excited to be joining VTech which will support our continued focus on developing and supplying the best business telephones in the world," said Andre Deloch, Chairman of the Supervisory Board of Snom. "The combination of VTech and Snom will strengthen the product portfolios and technological leadership of both companies in VoIP industry."

The transaction is subject to the approval of the relevant regulatory authorities.

About Snom Technology AG

Founded in 1996 and headquartered in Berlin Germany, Snom is a German multinational corporation and the world's first and a leading brand of professional and enterprise VoIP telephones. Snom's German engineering is globally renowned for robust, high-quality and feature-rich business telephones that are designed exclusively for the trained and certified professional IT and PBX installer. All of Snom's products are universally compatible with leading PBX platforms operating under the SIP standard, with over 4 million end-point installations globally. Snom products are sold through distributors to Value Added Resellers across the world. For more information, please visit www.snom.com.

About VTech