SATO has taken a majority stake in OKIL
SATO has taken a majority stake in OKIL after acquiring approximately 75 percent.
SATO said its deal to acquire the majority of OKIL, completed on December 19, 2014, acquisition strengthens its business network in Brazil, Russia, India, China, and South Africa (BRICS).
Denis Okulov, OKIL’s founder and CEO: “We are excited to be moving into 2015 with SATO. Being part of the SATO Group will connect OKIL to a wider global network, and allow us to deliver greater value to local customers through SATO’s diverse range of solutions”.
Kaz Matsuyama, SATO Holdings president and chief executive officer (CEO): “OKIL is recognized as a local market leader and fits perfectly into SATO’s strategic roadmap. Our mid-term strategy is focused on achieving sustainable growth, while maximizing value for customers across the globe. This acquisition allows us to further solidify that strategy, establishing a foothold in Russia and strengthening our network within BRICS markets, which offer tremendous growth opportunity”.
Going forward, OKIL will now operate as a subsidiary within the SATO Group.