The deal is part of the M&A plan to expand GRMS’s Hospitality offering by marking significant growth in the international market
Pordenone, Italy, April 9th 2024. VDA Telkonet, a global group with headquarters in Pordenone, that provides technology solutions for Guest Room Management (GRMS) and Energy Management (EMS) for the hospitality market, expands its presence in Europe by signing an agreement to acquire Adria Electronic, a company operating in the automation, energy and smart room system sector based in Rijeka, Croatia.
Once completed, this strategic transaction will expand VDA Telkonet’s installed portfolio to 8,500 facilities and add about 100 thousand rooms to the one million smart rooms already installed in 62 countries worldwide, including the United States, Europe, the Middle East and Asia. Reaching the agreement strengthens the Group’s current positioning, extending its operations in Eastern Europe and enhances the Guest Room Management System solutions offering for the hotel market.
A historical player and leader in the Croatian market and the Balkan area, ADRIA Electronic has been the benchmark for Room Automation in the Hospitality industry for over 30 years. With this acquisition, VDA Telkonet’s GRMS solutions will be aimed – in addition to the luxury target and international hotel chains – at smaller facilities, such as Boutique Hotels, with high customization needs to support the overall innovation process of the hospitality industry taking place globally.
“The acquisition of a major player such as Adria Electronic, a leader in the Eastern European market, will be an important step in VDA Telkonet’s international expansion strategy by creating a regional platform capable of serving a fast-growing area with the Group’s entire offering. With this operation we continue to implement our vision of Sustainability as the basis of the development of our solutions, which starts from ‘people centricity’ and allows us to reach an increasingly wide and varied customer base” – says Piercarlo Gramaglia, CEO of VDA Telkonet. “The goal is to continue to offer the market GRMS and EMS solutions for any kind of need in the hotel sector, satisfying both large international, regional and local chains and facilities managed by private investors.”
Under the agreement, VDA Telkonet will enter ADRIA through the acquisition of 70% of the capital, with an option to purchase the remaining 30 percent exercisable according to conditions and a defined period of time. Thus, the Group continues its path of both organic and inorganic growth to achieve the growth objectives set in the latest industrial plan approved by the Board of Directors. Once the deal is completed, and with the consolidation of ADRIA Electronic, synergies and further economies of scale will be realized, further improving margins to double digits.
“We have been offering solutions related to automation and smart room systems for more than 30 years,” says Vladimir Budislavic current Entrepreneur and President of Adria Electronic. “We are confident that with the VDA Telkonet Group we will refine quality standards even more in the 12 countries where we operate, with more innovative and even more efficient integrated systems that will increase our competitiveness.”
The operation, assisted by GOP as legal advisor, with a team composed of the partner, Raimondo Premonte, and associates Chiara Masucci and Vito Quaglietta as financial advisor with the team composed of Paola Pellegrini and Ottavio Reale, marks another significant milestone in the internationalization of the Italian company VDA, which began its exponential development in 2021 with the acquisition of Telkonet, Inc. a U.S. company listed on the OTC market and operating in the field of Energy Management Systems (EMS).
The expansion of the GRMS product portfolio continues in the direction of People Centricity Hospitality, a core value of VDA Telkonet, which puts people at the center of everything by offering assets that improve both the guest experience with room features and the hotelier experience through platforms that optimize resources, time and energy while pursuing ambitious environmental sustainability goals.
The VDA Telkonet Group presents itself as the largest global player active in the development of EMS and GRMS solutions targeting the Hospitality market. The Group defines the future of the industry by placing the Person at the center of smart technology development and ensuring the right balance between maximizing comfort and saving energy. With about 1 million smart rooms installed in more than 50 countries, more than 60 years of experience, two in-house R&D Teams, and 40 engineers with both hardware and software expertise, the Group demonstrates a deep understanding of the areas in which it operates and is the ideal strategic partner for the global hospitality market.
Media contact: Barbara Alvino barbara.alvino@vdagroup.com
