discoverIE acquires Silvertel
Guildford-based electronics company discoverIE. operating out of Surrey Research Park, has announced its acquisition of Silver Telecom Limited.
Silvertel is a designer and manufacturer of Power-over-Ethernet modules and other products for the industrial electronic connectivity markets.
The firm has a presence in over 70 countries, which will help bolster discoverIE's expansion plans.
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Silvertel, based in South Wales, will retain its brand identity following the acquisition and will become part of discoverIE's Magnetics & Controls division.
The shareholders were advised by Capital Law as well as Momentum Corporate Finance.
Steve Edwards, Founder & CEO of Silvertel, said: ''We are delighted to become part of the discoverIE group. From the moment we met Nick and the team, it was clear that dicoverIE is an organisation that shares our values and will be a supportive owner for Silvertel.
''Gareth, Mel and all of the team at Capital Law have been fantastic – they provided pragmatic advice and calmly guided us throughout the process.''
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