FSN Capital III has closed the divestment of Tactel to Panasonic Avionics Corporation (PAC).
Tactel, a Swedish solution provider focused on advanced graphics and user experience on mobile and consumer electronic devices, has been acquired by Panasonic Avionics Coproration - the world's leading supplier of inflight entertainment and communication systems.
"We are excited by this new phase for Tactel," said Tactel's CEO Jonas Andersson. "Our clients will meet the same company as before, but now with Panasonic as a strong international owner. This will give Tactel opportunities to develop its business both in Sweden and in new markets around the world. We expect to thrive and bring value to Panasonic Avionics Corporation and our customers. We are also pleased that Panasonic Avionics recognizes the value of software development talent that exists in Sweden."
Paul Margis, President and Chief Executive Officer for Panasonic Avionics said, "Tactel is a unique and innovative company that delivers custom solutions with the personalized, rich experience that today's electronics customer demands. We believe that Tacte's unique blend of solutions and services will help enhance our inflight entertainment and broadband connectivity, and also help our customers become even more successful."
FSN Capital was advised by the law firms Vinge and Wigge & Partners.