Kitron ASA (kitron.com) has signed an agreement to acquire 100% of the shares in Veru Electronic GmbH (veru.de) for 700,000 euros (about $1.1 million). The deal is subject to a debt financing agreement, and is scheduled for early 2010. After the close, Veru will become a wholly owned subsidiary of Kitron ASA.rnIn announcing the deal, Kitron said the company was attractive because of its location. "It is part of Kitron ASA's strategy to enter into new geographical markets," said Roger Hovland, corporate vice president. Germany is the largest EMS market in Europe and is seen as having the highest potential for further outsourcing, the company said. "Having a local entity gives credibility and shows long-term commitment," Kitron said.
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