A hacker attack caused a complete loss of operations, then bankruptcy followed. Things looked bad for the German bicycle and e-bike manufacturer Prophete for a long time. Now comes the good news: An investor is taking the helm. Production and sales continue.
Prophete: E-bike manufacturer continues
It was an exciting few months for the traditional German manufacturer Prophete. One extensive cyber attack caused the production of bicycles and e-bikes to collapse completely at the end of 2022. The company, which was founded more than 100 years ago, was then forced to file for bankruptcy. An unexpectedly weak business development also caused the insolvency.
Now there will probably be a happy ending after all. According to the insolvency administrator, a Buyers found for the traditional brand been. Singapore-based Dutech acquires Prophete and the Cycle Union brand (source: Brinkmann & Partners). Both locations in Rheda-Wiedenbrück and Oldenburg will be retained and all employees will continue to be employed. No details have been made public about the takeover amount.
Above all, the investor should potential for Prophete and Cycle Union in e-mobility see. Existing customer and supplier relationships are to be continued. Conventional bicycles, e-bikes and e-scooters can also be purchased via the Prophete online shop.
Aldi also has Prophete e-bikes from time to time:
Prophete-Investor: Connection to Deutsche Bahn
The investor Dutech from Singapore belongs to the American entrepreneur Dr. Johnny Liu. The group employs around 2,600 people worldwide, in Germany there are 800 employees. Among other things, Dutech manufactures e-bike components, but is also responsible for products in the areas of safety technology and ticket machines. Among other things, Deutsche Bahn relies on the manufacturer’s ticket machines.
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