Frequentis acquires Comsoft

Frequentis is to take over the main assets and projects of ATC communications business Comsoft after its creditors voted unanimously in support of the offer.

The sale means the insolvency administrator Christopher Seagon has secured around 220 jobs and the office location in Karlsruhe, Germany while Vienna, Austria-based Frequentis expands its portfolio in the areas of air traffic control and air traffic management.

Both sides agreed not to disclose details of the sale which comes less than two months after filing for insolvency.

Seagon stated: “This was very demanding for all concerned and only functioned successfully thanks to the highly concentrated and focused contributions of all involved, especially the Comsoft employees.”

“Comsoft has a good reputation for its products and services. It is nevertheless a  difficult challenge for potential investors to conduct their due diligence, to submit a realistic offer in a short timeframe, and for the insolvency administrator to negotiate a purchase agreement,” Seagon added. “Anyone who achieves does this is professional and really wants the company. I am therefore confident that Comsoft will have a prosperous future within the Frequentis Group.”

Frequentis CEO, Hannes Bardach, expressed his confidence stating: “I am pleased about this extension to the Frequentis Group – the high quality solutions of the Comsoft portfolio, as well as the competence of the Comsoft team, will support the Frequentis Group in its efforts to develop innovative solutions for the ATM Market, consistent with international standards. This results in benefits and future-proof investments for our customers.”

The Frequentis-acquired ATC  and ATM divisions will continue under the name “Comsoft Solutions”, with Gerald Enzinger, a manager with broad ATM experience, designated as managing director.

Industry sources tell Air Traffic Management that delays to payments by a Middle Eastern customer caused the business cash flow problems.

Read Comsoft insolvent, buyers sought

 

 

 

 

 

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