Press Release, 4 November 2020
IOX and Witte Group Conclude Investment Agreement
Düsseldorf. The Witte Group from Wermelskirchen and the Düsseldorf-based company IOX GmbH have concluded an investment agreement. IOX is a development partner for solutions and products in the field of Internet of Things (IoT) and supports customers in the fast, individual and scalable realization of IoT projects. Witte Group is a specialized industrial and security printing company offering solutions for industrial identification, printed security products and printed electronics.
The growth of IOX is to be accelerated via a capital increase. The funds will primarily be used for the production and marketing of IOX’s existing in-house developments. In the future, the development of new IoT product components will be expanded. Further projects are to be generated through closer cooperation – also in the mutually existing networks and sales structures.
About Witte Group
The Witte Group is a leading industrial and security printer with approximately 130 employees in Germany and about 400 employees in Mexico. Through its subsidiary Witte New Ventures GmbH & Co. KG, strategic partnerships and the digital and technical development of its own product range will be further promoted in the future. MAYLAND AG was exclusively mandated by the Witte Group to handle the process and comprehensively advised Witte on the transaction.
IOX is an IoT development partner and works with agile working methods and an end-to-end development concept from one source (embedded HW, firmware, connectivity, cloud and app development, production and service). IOX has already won several prizes (including the NRW Gründerpreis 2017) and has been able to develop projects for well-known customers (e.g., Unilever, Henkel, Daimler, Vodafone). IOX was represented by Luther Rechtsanwaltsgesellschaft mbH.
IOX GmbH | Bettina Palka | +49 211 54 55 48 90 | bettina.palka [at] ioxlab.de
Witte Group | Monja Teuner | +49 2536 99 11 87 | teuner [at] witte-group.de