Berlin, Germany and Hong Kong: VTech Holdings Limited has acquired Snom Technology AG (Snom) telephones.
On 21 October 2016, the two companies announced that they had entered into a binding definitive agreement, under which VTech would acquire 100% of the share capital of Snom.
The transaction was completed on 21 November 2016 as it has satisfied all regulatory requirements and closing conditions. Upon completion, Snom is an indirect wholly-owned subsidiary of VTech.