SmartFin and PMV acquired shares in Newtec two years ago. SmartFin is planning to pay out its part of the capital gain to its shareholders, which include entrepreneurs such as Jos Sluys (Saffelberg), Jan De Clerck (Domo) and Jan Toye (ex-Palm). “ST Engineering is the right partner at the right time,” says Jurgen Ingels from venture capital fund SmartFin Capital.
Moreover, ST Engineering has emphasized in a press release that it will “continue to invest in Newtec and that it aspires to expand the company and turn it into its European HQ for satellite communication”. The tech firm from Sint-Niklaas currently employs about 400 people, most of whom are highly trained and educated.