Geniatech has set up its European subsidiary GmbH in Germany and purchased EyeTV
Geniatech Inc., Ltd has expanded its business presence in Europe by creating a new 100% owned European subsidiary in Germany. Geniatech Europe GmbH is based in Herzogenrath and Eschweiler close to Aachen.
Based in the heart of Europe, Geniatech Europe GmbH plans to distribute own manufactured high-quality ingredients for the Consumer electronics and smart TV industry, will strengthen cooperation and local support to existing and new ODM/OEM Customers and plan to cooperate with Local Universities as well local research centers and industries.
After a wildly successful decade Elgato sells the EyeTV business to Geniatech Europe GmbH, a wholly owned subsidiary of Geniatech Inc., Ltd. Geniatech will take over the complete EyeTV product line and continue to develop and expand both hardware and software offerings. Geniatech Inc., Ltd and Germany-based Geniatech Europe GmbH are experts in the TV business with more than 15 years of experience and a worldwide reach. With this transaction Elgato completes its transformation from a PCTV solutions provider to a specialist for app-enabled lifestyle accessories.
“We proudly assume responsibility for the premier brand in the PCTV and mobile TV business,” says Mike Decker, GM of Geniatech Europe. “We have substantial plans for EyeTV. Both existing and future customers can look forward to exciting innovations around DVB-T2/HEVC and apps for Apple TV, Amazon Fire TV, and Google Nexus Player Android TV. We are also planning the next generation of award-winning EyeTV 4 software with a new and modern user experience.”
“We are certain that EyeTV has found a capable and competent new home with Geniatech,” says Markus Fest, CEO of Elgato. “It was very important to us to find a partner who can ensure EyeTV’s future.”
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