Focusing on sectors with high value-added to create benefit for both the group and the national economy, Doğan Holding added another investment to its long list of promising, high-potential ventures. In line with its investment strategy, Doğan Holding is acquiring a stake in Karel, one of Turkey’s leading industry and technology companies.
Doğan Holding, a conglomerate that operates in seven industries as a pioneering and sustainable investment holding, has signed a new partnership agreement in line with its investment strategy. Reaching an agreement with Karel, a leading technology developer in Turkey, Doğan Holding commenced formal procedures for the transfer of stake in the company.
Karel was established in 1986 by the Tunaoğlu family in Ankara. Operating in five technology-focused fields of activity, Karel is a pioneering industrial tech company offering telecom solutions including cloud-based communications and IoT, defense industry solutions, telecom infrastructure projects, automotive electronics and electronic cards. With approximately 3,500 employees, Karel boasts a world-class R&D and production capability encompassing R&D to design, production and after-sales support.
At the same time as Doğan Holding’s investment, Karel negotiated a deal to acquire 75% stake in Daiichi, a company that specializes in automotive electronics. The Istanbul-based Daiichi is Turkey’s leading infotainment systems producer, as well as a key international player.
Remarking on the partnership with Karel, Çağlar Göğüş, Doğan Holding CEO, said: “We are looking to continue our growth, especially in the fields of energy, technology, mobility and fintech. We strengthen our asset structure by investing in new lines of business that offer high added value, as well as companies with a proven track record of making a difference. Meanwhile, we invest in the future by driving the growth of high-potential companies in our portfolio as we continue our growth with fast and confident steps. We attach great importance to the digitization of the industry and communications in Turkey, and we aspire to become a pioneer in this effort. Technology investments present a key opportunity for Turkey. That is why we are very excited about our new partnership with Karel, a leading industrial technology company in Turkey that specializes in electronics and communications.”
Yaman Tunaoğlu, Karel CTO, commented: “We are living in an age of change that has seen breakneck advances in technology, with electronics becoming a key stakeholder in each and every industry. As a leading technology company in Turkey, we are very excited to join our forces with Doğan Holding, a deep-rooted conglomerate with a history of over 60 years, in line with our goals of seizing new opportunities as they present themselves, and expanding overseas to become a global player through organic and inorganic growth in our key areas of strength, namely manufacturing, communications, defense and automotive.”