from Paragon AG (isin : DE0005558696)
EQS-Adhoc: paragon: Sale of AI subsidiary paragon semvox to CARIAD completed
EQS-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Disposal
paragon: Sale of AI subsidiary paragon semvox to CARIAD completed
11-May-2023 / 10:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
paragon: Sale of AI subsidiary paragon semvox to CARIAD completed
Delbrück | May 11, 2023 - paragon GmbH & Co. KGaA (ISIN DE0005558696] has closed the acquisition of AI specialist paragon semvox, a subsidiary of the listed automotive supplier, by CARIAD SE, the software company of the Volkswagen Group. The closing of the transaction could take place today after all contractually agreed conditions were met.
After the closing of the acquisition, paragon semvox GmbH is now a wholly owned subsidiary of CARIAD SE with more than 140 employees at the semvox locations in Limbach and Nuremberg. All jobs will be retained. The paragon development teams in India and China will also continue to support semvox.
About paragon GmbH & Co. KGaA
paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company’s portfolio includes the Electronics operating segment’s innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house. Following the sale of the Voltabox share, paragon and its Power operating segment are now acting independently in the rapidly growing automotive market for battery systems.
In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Bangalore (India) and Oroslavje (Croatia).
Additional information about paragon can be found at www.paragon.ag.
Capital Market & Press Contact
paragon GmbH & Co. KGaA
Dr. Martin Esser
Bösendamm 11
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-200
Fax: +49 (0) 52 50 - 97 62-102
Email: investor@paragon.ag
End of Inside Information
11-May-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | paragon GmbH & Co. KGaA |
| Bösendamm 11 | |
| 33129 Delbrück | |
| Germany | |
| Phone: | +49 (0)5250 97 62 - 0 |
| Fax: | +49 (0)5250 97 62 - 60 |
| E-mail: | investor@paragon.ag |
| Internet: | www.paragon.ag |
| ISIN: | DE0005558696, DE000A2GSB86, |
| WKN: | 555869, A2GSB8, |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1630635 |
| End of Announcement | EQS News Service |
1630635 11-May-2023 CET/CEST