22.12.2016

Carmanah Technologies – Acquisition of Cybernetica’s Marine Aids to Navigation Business

We are acting as the legal advisor to Carmanah Technologies Corporation in the acquisition from Cybernetica AS of its business relating to marine aids to navigation. The assets are to be acquired by Carmanah’s wholly owned Estonian subsidiary, Sabik OÜ. The transaction is expected to be closed in the beginning of 2017.

Carmanah Technologies Corporation is a Canadian company and leading provider of stand-alone solar-powered LED lights and beacons and solar power systems for industrial applications worldwide. Carmanah is listed on the Toronto Stock Exchange (TSX: CMH). The management of the new Estonian subsidiary will be handled by the management of Carmanah’s Finnish subsidiary, Oy Sabik Ab.

Cybernetica develops and manufactures software solutions, light signaling and telematics products as well as maritime surveillance and radio communications systems, including marine aids to navigation products. Cybernetica has participated in developing several programs for the Estonian government such as the Estonian X-Road, internet-voting system and electronic system for customs authorities.

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