Singapore, 5 January, 2015 – Panasonic Asia Pacific Pte Ltd (hereinafter Panasonic) has announced its acquisition of RFNET TECHNOLOGIES PTELTD (hereinafter RFNET), a Singapore-based custom wireless, surveillance and networking solution company. Panasonic will own 51.9% of RFNET after completion of the acquisition by the middle of January 2015.
RFNET specializes in customized commercial WiFi network solutions for the public sector and outdoor use. The Singapore-based company provides turnkey solutions such as system integration, system installation and wireless design consulting to the public transportation and education sectors. It will become a Panasonic group company post-acquisition.
Panasonic has plans to grow its infrastructure system solution business in Asia. It will focus on developing three infrastructure system solutions: commercial communication networking, intelligent transport solutions (ITS) and private wireless networking.
The acquisition of RFNET will expand the commercial WiFi network business in Asia for Panasonic. RFNET’s product development capabilities, local market understanding, firm establishment in the public transportation and education sectors, will complement and expand Panasonic’s infrastructure solution offerings across the region.
Terms of the transaction were not disclosed.
Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates around 500 consolidated companies worldwide, recording consolidated net sales of 7.74 trillion yen for the year ended March 31, 2014. Committed to pursuing new value through innovation across divisional lines, the company strives to create a better life and a better world for its customers.
For more information about Panasonic, please visit the company's website at http://panasonic.net/.
Panasonic Asia Pacific provides the whole range of the brand’s products and solutions across the South East Asia and Pacific (APAC) region. The company focuses on promoting its Business-to-Business portfolio, such as in the field of energy solutions, whilst maintaining solid Business-to-Consumer growth, in line with the group’s global direction.
The region has 45 manufacturing sites, which hold as a key hub for Panasonic’s global production activities supporting the consumer, solutions and components and devices business. Based in Singapore, Panasonic Asia Pacific regional headquarter encourages locally-initiated energy solutions partnerships and businesses. Panasonic Asia Pacific will continue to promote green innovation and reduce its regional carbon dioxide emissions footprint in support of Panasonic’s global eco initiatives.