Tait Communications

Tait Communications to partner with JVCKENWOOD

10 December 2018; Christchurch, New Zealand

The Tait Foundation proudly announces today the sale by Tait Limited of a minority share in Tait International Limited to JVCKENWOOD from Japan.

Tait International Limited is one of two operating companies ultimately owned by the Tait Foundation and is the majority employer and radio technology development company originally established by Sir Angus Tait in 1969. Over almost 50 years Tait has developed and deployed critical communications technologies and networks to the public safety, electrical utility, public transport, mining and public communications markets in over 90 countries across the globe. Its ongoing success has stemmed from globally competitive research and development, design, and niche manufacturing capability headquartered at the Tait Technology Centre in Christchurch.

Tait's recent development focus on convergence of traditional voice communications with data-rich, cellular and broadband communications systems has attracted the investment from JVCKENWOOD. The strong JVCKENWOOD product portfolio and complementary global distribution footprint, positions both companies far more effectively in the increasingly competitive critical communications market world-wide.

Tait CEO, Garry Diack says that "the capital requirement for ongoing, faster and deeper research and development to remain a global leader is limiting our growth and competitiveness. We confront significant growth potential right across our global reach and additional capital beyond the group's ability to fund, is now required. Strong global partnerships with companies such as JVCKENWOOD and the additional capital that the partial sale brings are essential to transition Tait into the converged digital world."

A proportion of the sale proceeds will be invested by The Tait Foundation back into Tait International for enhanced development of cloud-based critical communications solutions, and in growing global market share. The remaining funds will provide greater ability for the Foundation to continue pursuit of Sir Angus's wish that it support the development of technology capability and industry in Christchurch - which the Foundation largely achieves through support of the Tait companies and through funding donations to educational institutions such as the University of Canterbury.

"Access to capital and a strong funnel of smart capable young talent are essential for the technology reputation of Christchurch to continue to punch above its weight internationally," says Diack. "We are fortunate to attract such a strong and aligned investor in JVCKENWOOD. They share similar values to Tait, and have a complementary view of the future challenges and opportunities in the industry. They have also invested in what we hold dear – the research, development and design strength of the company in Christchurch."

For further information, please contact:

Bryn Somerville
Head of Communications
Mobile: +64 27 295 4299
Email: bryn.somerville@taitradio.com

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Tait CEO Garry Diack (at right) with Shoichiro Eguchi, JVCKENWOOD Chief Operating Officer and President, during a recent visit to the Tait campus in Christchurch, New Zealand by Mr Eguchi.

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