Technology manufacturer says market conditions are right for consolidation
Ruislip-based accessories and handset manufacturer Santok says it is on the lookout for acquisitions in the technology sector.
“We have a clearly defined strategy for expansion, & will capitalise on international growth markets, by committing to acquisitions,” said chief executive officer Jay Pau. “We believe there is more room for consolidation within the technology industry as innovation & consumer demand converges.”
The company said in a statement that government investment in communications infrastructure in the developed world and emerging economies such as India, China and Brazil, meant that the consumer technology and accessories industries were set for “exponential growth.”
Santok currently operates under the StK Accessories brand and manufactures fixed-line handsets under the Tecdesk brand. It also has a global partnership with Indian smartphone manufacturer Karbonn Mobile to distribute its handsets outside of the country.
The firm grew its turnover by 12.4 per cent to £10.8 million in the year-ending 31 March 2014 (2013: £9.6 million). Profits during the same period fell by 74 per cent to £176,000 (£670,000).
The release gave no other details on which companies that it would be targeting. Mobile News has contacted Santok for further comment.