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EQS-Adhoc paragon sells AI subsidiary paragon semvox to CARIAD

EQS-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Disposal
paragon sells AI subsidiary paragon semvox to CARIAD

01-Dec-2022 / 15:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


paragon sells AI subsidiary paragon semvox to CARIAD

 

Delbrück, December 1, 2022 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today signed an agreement with CARIAD SE, the software company of the Volkswagen Group, regarding the acquisition of the AI specialist paragon semvox GmbH, a subsidiary of the listed automotive supplier. The closing of the transaction is still subject to various conditions, in particular  the reservation of antitrust approvals, and is expected in spring 2023.

 

paragon semvox GmbH has supplied the Volkswagen Group as its main customer with AI-based solutions for voice control and human-machine interaction for many years. Both parties agreed a purchase price of approximately EUR 40 million; the final purchase price will be determined on the basis of a balance sheet as of the closing date.

 

Upon closing, paragon semvox GmbH will become a wholly owned subsidiary of CARIAD SE. Currently, more than 140 employees work at the semvox sites in Limbach and Nuremberg. All jobs will be retained. The paragon development teams in India and China will also continue to support semvox.

 

About paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company’s portfolio includes the Electronics operating segment’s innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house. Following the sale of the Voltabox share, paragon and its Power operating segment are now acting independently in the rapidly growing automotive market for battery systems.

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EQS-Adhoc paragon sells AI subsidiary paragon semvox to CARIAD EQS-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Disposal paragon sells AI subsidiary paragon semvox to CARIAD 01-Dec-2022 / 15:58 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted …

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