Arma Partners is pleased to announce that it has acted as lead financial advisor to Laird PLC (LSE:LRD), a global leader in the field of RF engineering, on the acquisition of Novero for a cash and stock consideration of €65 million.

Headquartered in Germany, Novero is a leading provider of integrated automotive connectivity systems with revenues of €83.7 million and EBITDA of €8.4 million for the year ended 31st December 2014. Novero enables telematics services, vehicle tracking for fleet management, driver behaviour monitoring, eCall emergency services, insurance tracking, vehicle diagnostics and vehicle remote control through a comprehensive product portfolio including telematics control units, wireless charging modules, wireless signal enhancement solutions and software applications that manage in-car connectivity systems. Employing around 250 people, Novero helps Audi, Bentley, BMW, JLR, MAN, Mercedes Benz, Skoda, Ford and Volkswagen pioneer future-proof connected cars.

This acquisition will make Laird one of the leading global providers of end-to-end vehicle connectivity solutions, with a highly capable software platform, and strengthen Laird’s leadership position in automotive connectivity within the broader Enterprise Internet of Things market.

This transaction underscores Arma Partners’ sector knowledge and ability to structure and drive highly attractive outcomes for our publicly listed clients.