Notes to Group Financial Statements — All amounts are in CHF 1000

3Changes in the scope of consolidation and other changes

On 31 October 2022 HUBER+SUHNER acquired Phoenix Dynamics Ltd., a provider of customised, assembled cable solutions, electro-mechanical assemblies, concept design and consulting for the industrial markets in Europe and North America. Based in Staffordshire, UK, Phoenix Dynamics has been active in the aerospace and defense markets for 25 years. The company that also serves customers in industries such as automotive, energy, industrial, marine, medical, rail and security has been renamed in HUBER+SUHNER Phoenix Dynamics Ltd..

At the time of acquisition, the fair values of net assets acquired according to Swiss GAAP FER were as follows:

The goodwill from the acquisition of Phoenix Dynamics Ltd., which was offset with equity, is CHF 5.9 million. The total purchase price (including acquisition costs) is CHF 7.5 million. After the deduction for purchased net cash (CHF 0.6 million) and the ouststanding payments (CHF 1.8 million) the net cash outflow is CHF 5.1 million. Phoenix Dynamics Ltd. is reported in the Industry segment.

From the acquisition of ROADMap Systems Ltd., Cambridge, UK, in 2021, the remaining payment of CHF 0.2 million was paid in April 2022.

On 30 April 2021 HUBER+SUHNER acquired ROADMap Systems Ltd., a technology start-up located in Cambridge, UK, through an asset deal. The company is developing the next generation of highly integrated wavelength-selective switch technology and is integrated into the Communication segment. At the time of acquisition, the fair values of net assets acquired according to Swiss GAAP FER were as follows:

In 2021 the goodwill from the acquisition of ROADMap Systems Ltd., which was offset with equity, was CHF 1.2 million. The total purchase price (including acquisition costs) was CHF 1.5 million. Considering the remaining payment of total CHF 0.3 million, the net cash outflow was CHF 1.2 million in 2021. This business is reported in the Communication segment.

In 2021 the remaining outstanding payment of CHF 0.6 million for the acquisition of Kathrein SE, Germany (acquired in 2019), was fully derecognized as the criteria for deferred payment were not achieved and the goodwill was reduced by CHF 0.5 million (net of taxes) accordingly (see note 20). This business is reported in the Industry segment.

In 2021 a final payment of CHF 0.1 million was made for the acquisition of Inwave Elektronik AG, Reute, Switzerland (acquired in 2017) and the goodwill was reduced by CHF 0.3 million, as the deferred purchase price was CHF 0.4 million. This business is reported in the Industry segment.

A complete list of all Group companies can be found in chapter Group Companies.