Locatel Europe Group acquires IT company 2M Electronic  

2005.05.18
IT company 2M Electronic, based near Copenhagen, has been acquired by its French collaboration partner Locatel Europe Group for more than DKK 50 mn

IT company 2M Electronic, based near Copenhagen, has been acquired by its French collaboration partner Locatel Europe Group for more than DKK 50 mn (USD 8.5 mn). 2M Electronic has developed a TV information system for hotel rooms which makes its possible to watch payment TV, listen to music, receive messages from reception and use the internet. The IT firm has supplied its system to 2,500 hotels worldwide.

Lars Melvin Scharf, sales director of 2M Electronic says the company will become the technology centre for Locatel Europe Group, and that development activities will be strengthened considerably and be placed in Denmark. Xavier Negiar, senior executive of Locatel Europe Group says that 2M Electronic will play an important role in Locatel's long-term global expansion strategy.

The two owners of 2M Electronic, Benny Mieritz and Lars Melin Scharf, will become shareholders of Locatel Europe Group and continue in the same job positions as currently. The news is reported by Computerworld.

Link > 2M Electronic

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