Digital Health & Solutions of Peripherals? Due to its still limited financial scope, Cherry SE has decided to divest itself of one of its two core businesses. The decision is expected to be made during the ongoing M&A process that has been initiated.
The plans to sell one of the two core divisions were disclosed yesterday by the Cherry AG Executive Board led by Oliver Kaltner, formerly Electronic Arts, Sony, and member of the Microsoft Germany management team. An extraordinary general meeting is currently being held to explain the M&A plans. The Executive Board also intends to explain the circumstances that led to a loss amounting to half of Cherry SE's share capital.
Cherry is best known in the gaming industry for its input devices. In addition to its peripherals division, which consists of gaming devices as well as office, industrial, and security peripherals, Cherry is also active in the field of digital health & solutions. Here, Cherry offers e-health terminals, mobile devices, firmware, software, and cloud solutions such as TI-M and TMS.
According to the company, despite the restructuring measures that have been initiated, it has not been possible to overcome the restrictions on its financial flexibility. Cherry intends to use the proceeds from the sale to reduce its debt and provide the remaining part of the company with the financial resources to finance its growth plans.
