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HHLA Buys 80% Stake In Automation Specialist ISAM AG; Terms Not Disclosed

Hamburger Hafen und Logistik AG or HHLA (HHULF.PK,HHULY.PK) Thursday said it is acquiring 80 percent stake in iSAM AG, a specialist in automation technology. The financial terms of the deal were not disclosed.

The remaining 20 percent of the company are controlled by its three previous managers. of the company. Both sides have agreed not to disclose the purchase

HHLA Chairwoman of the Executive Board, Angela Titzrath said the deal takes its growth- and innovation-focused strategy further.

iSAM AG currently employs 50 people. The company has subsidiaries in core markets in the USA, Australia (Asia) and Canada. iSAM was able
to grow its revenue and profit by 30 percent in 2020 despite Covid-19 restrictions.

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