Teltec shareholders took over Palgon AG, listed on the Dusseldorf Stock Exchange, with effect on 1 January 2023 and renamed it Avemio. Avemio AG is now the sole parent company of the Teltec Group.
“In this so-called Reverse IPO, a group of investors has provided us with significant support. These new partners will contribute their capital market experience. Together we will implement ambitious growth plans,“ says Teltec board chairman and Ave- mio CEO Ralf P. Pfeffer. Teltec is the leading system supplier for broadcast and media technology on the German speaking market.
He adds: “There is a plan for how we will grow, especially internationally, as part of a buy-and-build strategy. The European media industry is highly fragmented in various trade segments, just as it was in the broadcast market in Germany a few years ago. A good opportunity to enter into partnerships with foreign trading companies“.
Avemio AG is now the sole parent company of the Teltec Group.
The German-speaking retail landscape for professional film and television technology has so far been consolidated under Teltec’s own steam with acquisitions of competitors and now wants to continue this with a European focus financed through the capital market, said Ralf P. Pfeffer. The group of companies currently includes the brands Teltec, BPM, Videocation, Creative Tools and Video Data.
In the coming years, the Avemio Group wants to transform from being the largest German trading group for professional film and television technology into an internationally operating media technology corporation.
The first investments and company foundings in the IT / AI sector were made in 2022. In addition, Teltec AG received innovation funding of half a million eu- ros from the state of Hesse, Germany, for its own AI project. The former Teltec shareholders exchanged their Teltec shares for Avemio shares through a con- tribution agreement and now hold the majority in the listed parent company.
The brands of the now Avemio Group: Teltec, BPM, Videocation, Creative Tools, Video Data. All members of the Teltec Supervisory Board were appointed to the same board of Avemio AG. Dr Erwin Heresthal, who has held this position at Teltec AG since the beginning, was elected Chairman of the Supervisory Board. The Board of Palgon, now Avemio AG, expects the resolutions of the Annual General Meeting of 30 December 2022 to be registered by the registration court of Düsseldorf shortly.
Header Photo: Ralf P. Pfeffer, Teltec board chairman and Avemio CEO
